Add thelocalreport.in As A Trusted Source
Nashik, Nov 13 (IANS) Nashik Municipal Corporation in Maharashtra will issue bonds worth Rs 400 crore to fund its 25 per cent share for various projects related to the upcoming Simhastha Kumbh Mela 2027.
This includes Rs 200 crore in Clean Godavari Municipal Bond and Rs 200 crore in Green Bond for water supply schemes. Nashik Municipal Commissioner Manisha Khatri made the formal announcement on Wednesday, a day ahead of Thursday’s visit of Deputy Chief Minister and Urban Development Minister Eknath Shinde to launch a series of projects for the Simhastha Kumbh Mela 2027.
Khatri said, “The proceeds of the Clean Godavari Municipal Bond of Rs 200 crore will be used for sewage treatment plants to maintain the cleanliness of the Godavari river and Ramkund area, while the green bonds of Rs 200 crore are proposed for water supply schemes. The Clean Godavari Bonds will be launched in the market by the end of this month.”
On raising capital through this method, the Corporation will receive an incentive amount of approximately Rs 76 crore per bond from Amrit Incentive Award and Urban Challenge Fund. The amount received will cover the interest that will need to be paid on the bond over five to seven years. Khatri said, this means that it will essentially be interest free borrowing. He further said that this will benefit the Municipal Corporation and save government money. Public-private partnership model will be adopted for projects like truck terminal and exhibition centre.
Nashik Municipal Corporation’s move to issue bonds worth Rs 400 crore assumes significance as it has submitted a development plan worth about Rs 15,000 crore to the state government for the Simhastha Kumbh Mela to be held on the banks of the Godavari river in 2027.
The corporation has received approval for long-term projects, but it will have to contribute 25 percent of the total cost. Considering permanent infrastructure projects, the amount is estimated to be around Rs 1,000 crore, Khatri said. He reminded that during the last Kumbh Mela, the Corporation had to borrow Rs 350 crore to arrange funds.
Earlier, Chief Minister Devendra Fadnavis directed that all infrastructure works for the Nashik-Trimbakeshwar Simhastha Kumbh Mela should be completed with quality and speed, as the Kumbh Mela is a symbol of faith and cultural and religious tradition. He also told the administration that the work of new ring road in Nashik should be completed at any cost and the land acquisition work for Sadhu Village/Tent City should also be completed expeditiously. He was speaking at the review meeting of Nashik-Triambakeshwar Simhastha Kumbh Mela 2027.
CM Fadnavis said that since the Simhastha Kumbh Mela is a symbol of religious faith, the water of Ramkund and the river will be kept clean during the entire Kumbh Mela period. Make sure it remains clean. Sewage works should be started and completed on priority. The work of providing various facilities at airports and railways should also be completed expeditiously.
The CM said, “The work of the new ring road in Nashik should be completed immediately. Delay in this work will not be tolerated. The concerned departments should immediately sanction the required funds for this. Other road works should also be started immediately. Attention should be paid to not inconvenience the citizens due to incomplete work. After discussing with various Akharas, facilities should be provided in Sadhugram as per their needs.”
The Chief Minister said that the CCTV camera system should be made in a centralized manner. He further said that various options of ‘AI’ should be used to maintain law and order and provision of police accommodation should be done on priority.
–IANS
sj/dpb