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smart city company by Odisha Govt

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A ‘smart city company’ to be formed by Odisha government and appoint its CEO by the end of this month to ensure that the implementation of smart city projects get to a smooth start in Bhubaneswar.It also would form a Special Purpose Vehicle (SPV) to fund the projects.The decisions were taken in a meeting after Bhubaneswar declared the first place in the top 20 proposed smart cities named by the Union government.

According to the Bhubaneswar Municipal Corporation (BMC) Commissioner Krishan Kumar, executives from the Urban Development, Energy, IT and Works Department would be made directors of the company.Besides, experts from in and out of the state would be hired as independent directors.The CEO and the Financial Officer would also be employed and work on the projects would begin from July.

In the first phase priority will be given to Development of infrastructure, uninterrupted power supply, sanitation and waste management. Upliftment of slum dwellers, parking facilities and communication systems would also be enhanced.

The projects would be undertaken in Public-Private Partnership (PPP) mode.Master Canteen area, in the centre of the city, would be developed as the model district.
In next five years  4500 crore INR would be spent for the smart city programme . While the Union government would fund  500 crore INR , the state government would fund  500 crore INR on the project. Rest  3500 crore INR would be taken as a loan from the World Bank.

Also Read : Bhubaneswar Tops the Smart City Challenge 

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