Government of India and ADB Sign $346 Million Loan to Improve State Highways in Karnataka
30th August, 2018Category: Businss and Economy, International
The Asian Development Bank (ADB) and the Government of lndia today signed a $346 million loan to finance improvement of over 400 kilometers of state highways that will enhance connectivity and access to economic centers across 12 districts in Kamataka under Karnataka State Highways lmprovement lll Project (KSHIP-lll).
An ongoing road improvement project financed by ADB with a loan of $315 million is under implementation, which involves upgradation of about 615 kilometers of state roads. This KSHIP-lll project will upgrade about 419 kilometers of state highways to two- and four-lane with paved shoulders, and will reconstruct, widen, and strengthen culverts and bridges. The project features the use of hybrid-annuity contracts to increase the participation of the private sector and improve the quality and sustainability of road assets with performance-based maintenance period of 7 years, post-construction.
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