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The Cabinet Committee of Economic Affairs on Tuesday approved the development of four-laning of the Cuttack-Angul section of the National Highway NH-42 at a total cost of about Rs 1,575 crore.
In a statement, the government said that the main objective of the project is to expedite the improvement of infrastructure in Odisha and also reduce the time and cost of travel in that section. “Bids have been invited on the basis of provisions of the model concession agreement subject to such changes as accepted by the PPPAC. Maximum grant from the Government for Viability Gap Funding (VGF) would be 40 per cent of the TPC,” the statement added.
Among other key decisions, the Cabinet also approved a joint declaration of intent for minor amendments in the earlier signed MoU for implementation of the 'Indo-German Partnerships in Higher Education'.
The government said these minor amendments will help higher educational institutions in both the countries to benefit mutually to enhance innovative partnerships in the field of education, research and skill development.
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