The Indian state of Assam has announced infrastructure projects worth Rs120bn following easing of lockdown measures imposed amid COVID-19 pandemic, according to media reports on Saturday. These infrastructure projects aim to revive economic growth and fuel steel demand.
Of the total planned investment, Rs58.544bn will be infused from the State exchequer while the remaining will be funded by the Asian Development Bank (ADB) and the Asian Infrastructure Investment Bank (AIIB), said Himanta Biswa Sarma who holds PWD and Finance among other portfolios in the Assam government.
The infrastructure projects include construction of medical college and hospitals entailing an investment of Rs20.50bn, and other educational institutions with an investment of Rs4.36bn. All the locally-funded projects are likely to begin by December, while ADB and AIIB-funded projects would start from March 2021.
The PWD is planning to construct two flyovers in Guwahati and Tezpur with an investment of Rs4.20bn and Rs3.21bn, respectively.
($1= Rs 73.49)