Guwahati: The Asian Development Bank (ADB) on Friday signed a loan agreement with the Mission of Assam’s skills development for the establishment of a University in Mangaldoi.
The estimated project costs are US $ 140 million.
The state government has ventured 250 Bighas land and construction work is expected to begin at the beginning of next year.
This project is likely to be completed in 2027.
The loan agreement was signed between the Director of the State Adb Takeo Konishi and the Director of the Assam’s Skills Development Mission, Adil Khan.
The State Industry, Minister of Trade and Skills Development Chandra Mohan Patowary took into account the event as a great achievement for the creation of a group of skilled workers in Assam.
“With an investment of USD 140 million, the first government skill of the East India University will provide global quality skills education to our youth, ensuring the ability of industry work and development,” the minister wrote on Twitter.
ADB has approved a loan of USD 112 million to strengthen skills education and training through the formation of universities.
An additional grant of USD one million is also provided as a technical assistance by ADB, according to an official statement.
According to a detailed project report, nine schools have been proposed under universities that will meet the needs of local entrepreneurs, startups, and micro, small and medium enterprises for technology, skills, and business.