The Ahmedabad Urban Development Authority (AUDA) has come out with a plan to invest Rs 14.31 billion to construct new housing schemes, bridges and roads along with laying new drainage lines. In addition, the urban development body has also sought a soft loan of Rs 28 billion from Asian Development Bank (ADB) to fund its future projects.
Over the next couple of years, AUDA will spend Rs 5.3 billion on constructing eight new bridges, Rs 2.8 billion on laying new roads in developing areas, Rs 2.04 billion on providing affordable housing and Rs 20 billion on laying new drainage lines. In addition, Rs 2.02 billion will be spent on a number of other smaller projects.
AB Gor, CEO of AUDA, said that the development authority has a corpus fund of around Rs 11 billion and development works worth Rs 14.31 billion have already been initiated. “This fund will mainly be used for constructing new bridges, laying new roads, providing new drainage infrastructure and other amenities like new auditorium, library, civic centres, garden and development of lakes.”
The official stated that affordable housing under the PMAY and Mukhyamantri Awas Yojna is also one of the top priorities of AUDA. “The housing projects will be financed from AUDA’s own resources generated from various activities. We are likely to get more funds for projects under the Government’s housing schemes as well,” he added.
Commenting on the projects that AUDA aims to commission with the ABD loan, Gor said that 19 new flyovers will be constructed over S P Ring Road in addition to the eight bridges where work is underway.