IFC to fund Punjab drinking water project
By A Business Correspondent
The Punjab government has chalked out an ambitious Rs 4,800 crore drinking water supply and sewerage project for areas that lack these essential facilities. The project is currently being given final shape on the drawing board.
The five-year plan will cover 7,000 of the 12,000 such villages and will also be extended to urban areas. Work on the project will commence in mid-July and priority will be given to Faridkot, Bathinda, Ferozepore, Moga, Muktsar and Mansa.
The International Financial Consortium will bear 50 per cent of the total project outlay as first instalment. The loan is required to be repaid in 30 years at 1 per cent interest. Other foreign agencies from the Netherlands and Japan are also keen on participating in the project.
Further, the state government is zeroing in on rural water supply in Ropar district where over 58 villages do not have adequate water. New schemes will be introduced at a cost of Rs 4.67 crore. The project at Goslan village in Ropar has already been inaugurated.