ADB grants $300 million for road project in India

August 17, 2013

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The Asian Development Bank (ADB) has signed an agreement with the Government of India to provide a financing package of $300 million to fund a road development project in the state of Bihar.

The country intends to use the funds for Bihar State Highways II Project, which will upgrade 254 kilometers of severely deteriorated highway in northern and southern Bihar. The project will widen existing sections of four highways to two lanes, build and maintain bridges, and strengthen pavement. This should optimize access to the state highway network for beneficiaries living in remote villages.

The project will also use a $1 million from the allotted funds to prepare a 20-year road master plan for Bihar state. The project will also focus on improving the road design that will help address future flooding. To offset carbon emissions, the project will plant 10 trees for every individual tree cut for road widening. Solar panels will be used at construction sites to sequester carbon and reduce carbon emissions.

Stated for completion in October 2017, the estimated outlay of the Bihar State Highways II Project is $375 million. The remaining funding for the project will be provided by the government of India.

Source-http://www.worldconstructionnetwork.com