SURAT: Surat Municipal Corporation (SMC) might be for the first time issuing bond value Rs200 crore to fund its project of sewage remedy plant in the city. The common board of the civic body gave its in theory approval to the proposal on Friday. Centre will give SMC an interest subsidy of Rs26 crore at the bond under Atal Mission for Rejuvenation and Urban Transformation.
The local government estimate the sewage remedy plant to be incur a price of Rs420 crore and issuance of bond is a pre-arrangement to raise fund for the project in the city whose inhabitants is rising at a lovely fee of 70 in step with cent in step with decade. The civic body will get 70 in step with cent of funding for the project under more than a few central and state executive schemes.
“We have got in theory approval from the overall board to factor the bond. The central executive had announced an incentive to first 10 cities that get a hold of this kind of proposal. For each Rs100 crore raised through the bond, the inducement announced is Rs13 crore,” status committee chairman Anil Goplani mentioned.
The work at the sewage remedy plant is anticipated to start in the second one part of 2019.
The local government estimate the sewage remedy plant to be incur a price of Rs420 crore and issuance of bond is a pre-arrangement to raise fund for the project in the city whose inhabitants is rising at a lovely fee of 70 in step with cent in step with decade. The civic body will get 70 in step with cent of funding for the project under more than a few central and state executive schemes.
“We have got in theory approval from the overall board to factor the bond. The central executive had announced an incentive to first 10 cities that get a hold of this kind of proposal. For each Rs100 crore raised through the bond, the inducement announced is Rs13 crore,” status committee chairman Anil Goplani mentioned.
The work at the sewage remedy plant is anticipated to start in the second one part of 2019.
Surat Municipal Corporation to issue Rs 200 crore bond to fund sewage treatment plant
![Surat Municipal Corporation to issue Rs 200 crore bond to fund sewage treatment plant]()
Reviewed by Kailash
on
December 30, 2018
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