M’rashtra unveils SPVs for building smart cities

    Maharashtra Smart City Project
    In its quest to speed up the smart city projects across the state, the Maharashtra government is currently in the process of setting up special purpose vehicles (SPVs) to undertake and implement various projects under the Smart City mission and that the entire process will be completed by March-end.

    To start with, the SPV will be formed in Pune and Solapur at the municipal corporation level as the Central government has already shortlisted Pune and Solapur for the Smart City projects. The Centre will provide Rs 200-cr each for the city and Rs 100-cr each will be contributed by the state governments. A committee will be constituted for the SPVs with 15 members whereby eight will be elected representatives, such as mayor, opposition leader and house leader. The remaining seven will be from the administration and experts and that CEO will head the committee and these SPVs will undertake the smart city projects on a priority basis, without wasting time in bureaucratic procedures, said sources.
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