In a bid to boost small and medium scale manufacturing units, the Tripura government has sought a loan of Rs 1,200 crore from Asian Development Bank (ADB), which will be spent on improving the infrastructure of existing 13 industrial estates in the state, said director of industries and commerce department Viswashree B here on Tuesday.
In a statement, she said in line with the vision of Prime Minister Narendra Modi’s Atmanirbhar Bharat and Make in India, the Tripura government has been giving priority to industrial development in the state. Initiatives have already been taken to attract investment from across the globe to set up industries in the state based on rubber, bamboo, tea, natural gas and other agri and horticultural produces.
She said ADB had sanctioned a loan of Rs 16 crore in 2022 as project readiness fund. Later, in March this year, the state government submitted a proposal of Rs 1,200 crore for the industrial estates improvement project which included ADB’s share of $120 million and the state’s share of $30 million.
The director mentioned that the project was cleared in the screening committee meeting of department of economic affairs on August 31. This is one of the major projects of the state for infrastructure development. With the fund, development projects would be executed across 1,200 acres of land 800 acres for industrial setup and 400 acres for ancillary facilities. “Under this project, more than 500 industrial units are expected to be opened
besides the existing units,” said industry minister Santana Chakma.