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New Development Bank to fund Amaravati projects

Ch RS Sarma Vijayawada | Updated on November 21, 2018 Published on November 21, 2018

The New Development Bank has evinced interest in funding projects in Amaravati. The AP Roads and Buildings Department has proposed two projects, including the AP Mandal Connectivity and Rural Connectivity Improvement Project (APMCRCIP) and the AP Roads and Bridges Reconstruction Project (APRBRP) to New Development Bank (NDB) under externally aided projects.

The bank has in-principle agreed to finance the two. The cost of each project is Rs 3,200 crore, with a 70 per cent loaning component. The AP Mandal Connectivity and Rural Connectivity Improvement Project is proposed to improve major district roads.

The APRBRP is proposed to improve state highways, including 792-km-long double lane connectivity from the district headquarters to mandal headquarters, and 2,219 km of double lane connectivity from mandal headquarters to the adjoining mandal headquarters. It includes construction of 132 new bridges and reconstruction of 300 weak and narrow ones. Administrative sanction for the two projects is under process and will be accorded soon.

New Development Bank Vice-President and Cooperation Officer Xian Zhu, executive assistant to Vice-President Ningqian Zhang, project financing officers Jianshiyao, Garvit Sah and Ninad Rajpurkar, met Chief Minister N. Chandrababu Naidu at his residence at Undavalli on Wednesday and evinced interest in funding the R&B projects.

The Chief Minister explained the achievements of the state during the past four years and urged the bank representatives to invest in Amaravati and the state. NDB Vice-Chairman, Xian Zhu, praised the efforts of the Chief Minister.

Published on November 21, 2018
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