Chandigarh: Smart City project gets rolling as the Special Purpose Vehicle (SPV) constituted to undertake the various developmental projects is all set to launch its new office. SPV will also take control of the powers from MC to initiate the works. The SPV is likely to start working from new office in Sector 17 within two months’ time.
While explaining the working of SPV, Chief Executive Officer (CEO) B Purushrtha said, “All the works pertaining to Smart City Projects will be undertaken by SPV. MC will have no powers to look into Smart City Projects. SPV will conceive, conceptualise and develop projects for Smart City. All the funding for the projects will also be done by the SPV. We have shortlisted the building above recently constructed bridge in Sector 17 from where the office of the SPV will work.” B Purushrtha, CEO of SPV will shift his office to the new building and operate from there.
Purushartha also added that for carrying out the projects, around 200 project management consultants will be hired to work in SPV. Till the project is under development with SPV, MC will hold no say. SPV is likely to start operations within two months’ time from now.
He also said that this SPV is a company incorporated under the Companies Act, 1956. It is 50:50 Joint Ventures between Chandigarh UT Administration and Municipal Corporation, Chandigarh. The primary role of the SPV is to plan, appraise, approve, finance, implement, manage, operate, monitor and evaluate Smart City Solutions.
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