ADB approves Rs 551 cr for projects under Agartala Smart City

The Asian Development Bank (ADB) approved Rs 551 crore for three projects under the Agartala Smart City Limited.

The ADB decided to fund 23 km of road by retrofitting 15 stretches for Rs 444 crore, restore lakes and water bodies of Maharaja Bir Bikram College and its adjacent areas at Rs 30.67 crore and renovate the Ujjayanta Palace and its surrounding at Rs 35.68 crore in the ongoing financial year (FY) in a phased manner.

The officials of urban development told the media that an ADB team, headed by Bhavesh Kumar, head of design and supervision and project management consultant, held a meeting with the Agartala Smart City Limited team and accepted the demand proposal in the loan inception mission.

The ADB will provide the funds to the Centre for the Agartala infrastructure development, and the project works will begin by mid-May.

The entire work would be finished within one year, including additional city development programmes.

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Also read: IIFL HFL inks $68 mn loan with ADB to fund affordable green housing

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