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Construction : Web Exclusive | November 2018 | Source : CW-India

Japan to provide loans for infra projects in India

Representatives of India and Japan have exchanged notes at the recent Indo-Japan summit regarding the scope of Japanese loan for three projects in the north-east region of India. According to reports, the loan amount is estimated to be ¥316.45 billion for seven projects, three of which are in the north-east.

One of the projects include the refurbishment of a hydel power station in Meghalaya. Japan has agreed to grant loan of up to ¥5.49 billion to renovate the hydroelectric power station so that it can add a meaningful contribution for promoting renewable energy in Meghalaya under the ‘Project for Renovation and Modernisation of Umiam-Umtru Stage-III Hydroelectric Power Station’. The loan amount will provide monetary support to execute the renovation of two units of the Umiam-Umtru power station in the river basin of the Umiam and Umtru river. The project is expected to improve industrial development and lead to better standards of living in Meghalaya.

A second loan of ¥25.483 billion will reportedly be sanctioned to build a bridge under the North East Road Network Connectivity Improvement Project (Phase-3). The bridge will be a link between Phulbari in Meghalaya and Dhubri in Assam. The total length of the bridge is approximately 20 km. Nearly 2.95 million people are expected to utilise the bridge every year. It will reportedly bring down the travel time from the current eight hours and 13 minutes of the alternative route to approximately 23 minutes in the year 2030, which is two years after the project completion. Economic development will see a major boost through this project.

Under the ‘Project for Sustainable Catchment Forest Management in Tripura’, a third loan of up to ¥12.287 billion will be granted for tree plantation activities in Tripura.

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