Business Daily from THE HINDU group of publications Friday, Jul 06, 2007 ePaper |
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Roadways Money & Banking - Financial Institutions States - Other States ADB funding for renovation of Sikkim road projects
Sarikah Atreya Gangtok, July 5 The Asian Development Bank (ADB) will fund major renovation and improvement of roads in Sikkim. This is part of the North Eastern State Roads Investment Project (Nesrip) of the ADB in collaboration with the Centre’s Department of the Development of the North-East Region (DoNER). A meeting to chalk out a plan for the project between representatives of the ADB and the State Government was held here, which was presided over by the State Chief Secretary, Mr N.D. Chingappa. The Roads and Bridges Department is the implementing agency of the project in the State. First phase
In the first phase of the project, three roads have been identified for improvement, namely, the Melli-Nayabazar Road and Nayabazar-Namchi Road in South District and Sang-Rumtek Road in East District at an estimated cost of Rs 105 crore. Finance
While Nesrip is a 100-per cent Centrally-sponsored scheme, the ADB will finance up to 70 per cent of the project cost. While the Central assistance will go towards financing capital investment, the State governments are expected to bear the expenses for land acquisition, resettlement and rehabilitation, environmental mitigation measures and road maintenance. During the meeting, several problem areas relating to the proposed roads project were placed by the R&B Department before the ADB team. Among other things, it was recommended that the bank build a double-lane project for the Melli-Naya Bazar and Naya Bazar-Namchi roads. The cost of afforestation, land compensation, rehabilitation and resettlement plan should be included in the detailed project report, the department suggested.
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