Pondicherry sets SPV for speeding up the work
Pondicherry government sets up a special purpose vehicle, ‘Puducherry smart city development limited’ to speed up and implement the smart city project at a cost of Rs. 1,827.82 crore.
CM Narayanasamy also confirmed that Union government and Puducherry government will extend Rs 500 crore each and the French government will provide a loan of Rs 500 crore for the project. The rest of funding will be achieved through open market borrowings.
The special purpose vehicle headed by secretary P Jawahar will function under the guidance of Chief Secretary Manoj Parida after taking policy decisions in consultation with the cabinet. The company will also appoint a separate project management consultant who will help in implementing the multi-crore project.
Apparently, Puducherry ranked eighth in the list of selected cities for the Union government’s smart city project in the third round of the competition.
The project will target on improving urban mobility include establishing a dedicated public corridor-feeder system, smart integrated bus terminal and multi-level parking at old jail complex, iconic cycle track and cycle sharing system besides making JN Street pedestrian friendly.
The special vehicle will also develop a dedicated app for the municipality to extend various services and establishing an integrated command control centre.