The cabinet today approved the establishment of a central university in the union territory of Ladakh, information and broadcasting minister Anurag Thakur said. He added that the central university will be constructed with a project cost of Rs 750 crore.
The minister said phase 1 of the project will be completed in four years, Thakur said.
The cabinet also gave a go-ahead to the establishment of Ladakh Integrated Infrastructure Development Corporation Limited (LIIDCO) in Ladakh, said the minister, while announcing Cabinet decisions on Thursday.
The Cabinet also approved the creation of one post of managing director, for the corporation in the pay scale of Rs 1,44,200-Rs 2,18,200 level, a government statement said.
The authorised share capital of the Corporation will be Rs 25 crore and recurring expenditure will be around Rs 2.42 crore per year.
Presently, there is no such similar organisation within the newly formed UT of Ladakh.
The corporation will work for industry, tourism, transport and marketing of local products and handicraft. It will also work as main construction agency for infrastructure development in Ladakh.
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