While the government has drawn a plan to invest up to Rs. 200 crore in the first year, followed by a spent of Rs. 100 for the next three years each, a Chinese firm has pegged the cost to be three-times more on a annual basis to build a 'Smart City'.
Speaking on the sidelines at the recent Gujarat Smart City Workshop, Philip Liu, the CEO of Chinese technology firm ZTEsoft's Indian arm ZTE India said, that the government may have to spend at least $ 100 million (approx. Rs 660 crore) annually to convert a city with size and population of Ahmedabad into a 'Smart City'.
He explained that the cost could further go up if if cost of building infrastructure is also added to it.
The workshop was jointly organised by ZTEsoft and R&D Centre of Shenzhen Government, China.
Ahmedabad and Gandhinagar civic bodies have have entered into a agreement with the Shenzhen Government for 'Smart City' project.
Shenzhen government had signed two MoUs with Gujarat to develop 'Smart Cities' during the Prime Minister Narendra Modi's visit to China earlier this year.