Japanese co to fund Punjab civil project

CHANDIGARH: Leading Japanese financial institution, Japan Bank of International Cooperation (JBIC), will fund a project that aims to provide 100 per cent water supply and sewerage connectivity in all major cities of Punjab.

The project could cross Rs 3,000 crore by the time major towns like Amritsar, Ludhiana, Jalandhar, Patiala and Bathinda were brought under its purview, a Punjab Government statement said here on Thursday.

In the first phase of the programme, JBIC would fund the project for water supply, sewerage connectivity and garbage disposal in the holy city of Amritsar at an estimated cost of Rs 360 crore.

The Japanese firm would cover the entire cost in the form of a soft loan at nominal rate of interest of 0.75 per cent. The loan would be recovered over a period of 30 years, with a 10 year moratorium.

The programme would aims to ensure safe drinking water, sewerage connectivity to 100 per cent houses of Urban habitations in the state, it said.

Sewerage treatment plants and solid garbage disposal plants for every city would be covered under the second phase of the project.

These decisions were taken at a meeting of the Local Government Department and representatives of Japan Bank of International Cooperation.

The meeting was presided over by Chief Minister Parkash Singh Badal.