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Formerly known as the Punjab State Tubewell Corporation, the Punjab Water Resources Management & Development Corporation was incorporated in December 1970 for the purpose of exploiting the ground water resources in the State of Punjab in India in order to provide water irrigation to local farmers by building deep tubewells in the parts of the state which are unable to access water resources due to the the deep water table and complex underground geological formations.
In order to further increase agricultural production in Punjab, the work lining of watercourses was also entrusted to the corporation by the national government starting in 1974-75 via programs financed by NABARD, World Bank, and other organizations.
In February 2008, the company was renamed from the Punjab State Tubewell Corporation to the Punjab Water Resources Management and Development Corporation.