ADB offices soon in Himachal

The Asian Development Bank (ADB) will soon be opening its first project management unit (PMU) in Shimla and the project implementation unit (PIU) in Kangra to execute the ambitious Rs 428 mega tourism infrastructure development project in the next four years.

This was decided at the meeting of the state government officials and ADB mission headed by Atsesushi Kaneko here on Thursday.

The ADB has drawn a plan to provide a loan of Rs 428 crore, of which Rs 128 crore will be spent under Project-1 and almost Rs 280 crore in Project-2 between 2010 and 2014.

Under the first project, there will be nine sub-projects consisting of estimated 20 contract packages, while the trench two will be presented by the state government in 2012 when the sub-projects will be ready for financing, a spokesman of the state government said.