Chandigarh seeks loan of Rs 550 crore from French bank for 24X7 water supplyhttps://indianexpress.com/article/cities/chandigarh/chandigarh-seeks-loan-of-rs-550-crore-from-french-bank-for-24x7-water-supply-5547689/

Chandigarh seeks loan of Rs 550 crore from French bank for 24X7 water supply

The CSCL had written to the UT Administration to hand them over 71 acres of land near the ISBT in Sector 43 to develop it under the smart city project.

Chandigarh seeks loan of Rs 550 crore from French bank for 24X7 water supply
A team from the AFD which has its headquarters in Paris and a branch office in Delhi will be visiting Chandigarh on January 31. (Representational Image)

THE CHANDIGARH Smart City Limited (CSCL) has sought a loan of Rs 550 crore from the French development bank AFD (Agence française de développement) to execute the pan-city 24X7 water supply project. As the CSCL has already floated tenders for projects worth Rs 1,000 crore, there was a requirement for financing the 24X7 water supply across the city. At present, tenders for 24X7 water supply in Manimajra have been floated but the project has to be implemented across the city.

K K Yadav, chief executive officer of the CSCL, said, “We have sought a loan and even supplied the RFP as per procedure. A team will also be visiting Chandigarh. As of now, initially only Manimajra will have the 24X7 water supply and the smart water meters.”

A team from the AFD which has its headquarters in Paris and a branch office in Delhi will be visiting Chandigarh on January 31. Yadav said that France is assisting three cities in this project: Puducherry, Nagpur and Chandigarh.

On December 31, the CSCL floated tenders for five major projects: public bike sharing, upgradation of sewerage treatment plant (STP), Manimajra water supply, restoration of smart meters, SCADA system of tertiary water supply.
The CSCL is still awaiting the go-ahead from the UT Administration for acquiring 71 acres of land in Sector 43 to develop the sector under the smart city project.

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The CSCL had written to the UT Administration to hand them over 71 acres of land near the ISBT in Sector 43 to develop it under the smart city project. Developing Sector 43 alone will take the major chunk of the smart city funds, which is around Rs 4,932.5 crore.

“In fact, it is the Sector 43 project which will generate revenue for us. But we have not heard anything from UT on the issue of acquiring land as such,” Yadav said.

The project will be developed in PPP (public private partnership) mode. In Sector 43, an amount of Rs 1,255.88 crore has been allocated for office space (Grade A) while Rs 1,312.45 crore would be invested for hotels. An amount of Rs 120.02 crore has been allocated for an exhibition centre whereas Rs 326.92 crore would be invested in a convention centre.

For retail area, Rs 779.71 crore has been allocated, Rs 320.83 crore would be spent on residential affordable housing and Rs 293.9 crore for the iconic area. For hostel facility, an investment of Rs 121.39 crore would be made while for integrated broadway and entertainment, Rs 285.74 crore would be spent.