Construction Infrastructure
India inks $300 mn pact with ADB to boost rural economy in Maharashtra.
The Asian Development Bank (ADB) has approved a $300 million loan as additional financing for the ongoing Maharashtra Rural Connectivity Improvement Project that is upgrading rural roads and connecting rural areas with markets and services in the State of Maharashtra in India.
The ongoing project, approved in August 2019, has been improving and maintaining the condition and safety of 2,100 kilometers (km) of rural roads across Maharashtra. The additional financing will improve an additional 1,100 rural roads and 230 bridges for a total length of 2,900 km in 34 districts.
“The additional financing aims to help accelerate Maharashtra’s economic recovery from COVID-19 devastation by generating rural employment and transforming agriculture,” said ADB Senior Rural Development Specialist for South Asia Masahiro Nishimura. “The state government targets to increase the average growth rate of agriculture and allied activities to more than 5% per year by 2030. The project will also provide last-mile connectivity to a large number of small villages, enhancing access to health and education facilities and greatly benefitting poor and vulnerable population by increasing agriculture productivity.”
News Source: Business World
Construction Infrastructure
The Adani Enterprises unit has received a letter of approval for an NH project in Maharashtra
Adani Road Transport Ltd (ARTL), a wholly owned subsidiary of Adani Enterprises, has received LoA for a project involving six laning of Kagal-Satara section of NH-48 (old NH4) in Maharashtra. The project will be executed under the Bharatmala Pariyojana at ₹2,008.47 crores. The construction period for the 67-km long road project is expected to be 2 years from the date of appointment and the concession period will be 18 years.
With this project award, Adani’s road portfolio will have total 14 projects with more than 5,000 lane km with asset value exceeding ₹41,000 crore spread across India.
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