Haryana to strengthen bus service of Gurgaon-Manesar Urban Complex

The Haryana government has decided to form a Special Purpose Vehicle (SPV) to strengthen the city bus service of Gurgaon-Manesar Urban Complex.

By: Express News Service | Chandigarh | Published:October 5, 2015 4:39 am

The Haryana government has decided to form a Special Purpose Vehicle (SPV) to strengthen the city bus service of Gurgaon-Manesar Urban Complex.

“The Haryana State Industrial and Infrastructure Development Corporation Limited (HSIIDC) will hold five per cent equity in the SPV and equity participation in the project. The SPV would be under the administrative control of the department of urban local bodies. The equity participation of the municipal corporation would be 51 per cent, while that of Haryana Urban Development Authority (HUDA) would be 25 per cent. The participation of HSIIDC and the state government would be five per cent and 19 per cent, respectively. The initial paid up capital of the SPV would be Rs 1 crore. The government is committed to enhance the
basic facilities at important industrial destinations in the state. Every possible step would be taken to increase the flow of investors to the state,” said Sanjeev Kaushal, the principal secretary to the chief minister and chairman of HSIIDC.

Considered as the largest pollution-free industrial complex in northern India, Udyog Vihar Gurgaon is a part of National Capital Region and has a rich industrial base and a sound infrastructure.

“It boasts of some of the futuristic residential townships. IMT Manesar is the flagship industrial park of Haryana and a show window for the rest of the world with regard to its international infrastructure,” Kaushal said.

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