Injecting a major funding booster to the road infrastructure of north eastern region of the country, Japan International Cooperation Agency (JICA) has pledged loans worth Rs. 5,700-cr in two tranches for widening and upgradation into 2-lane with paved shoulder and geometric improvements of NH-54 in Mizoram and NH-51 in Meghalaya, Minister of State for Road Transport and Highways Pon Radhakrishnan, said adding that the interest rates on the loan for construction works and procurement of goods & services are 1.4 per cent per annum and for consulting services is 0.01 per cent. Re-payment of 'principal' will be made in 20 years after the disbursement period of 10 years.
Government has taken up various road improvement projects under Special Accelerated Road Development Program for North East (SARDP¬NE) for better connectivity in the entire region. In order to expedite road construction in the region, the government has set up the National Highways & Infrastructure Development Corporation Limited to augment the capacity of the agencies involved in the development and maintenance of NHs in the Region.
