CII inks MoU with Spanish Consortium on Smart Cities

Fri, 2015-10-16 15:55 -- SCC India Staff

The Confederation of Indian Industry (CII) has signed a Memorandum of Understanding (MoU) with Spanish Consortium for taking up the initiatives under the Smart City Mission at the CII International Conference on Smart Mobility for Smart Cities in New Delhi on October 15, 2015.

This is the fifth such MoU that CII has signed on Smart City - earlier the Industry body singed agreements with German, US, Indian and Japanese Consortiums.

The Spanish Consortium is led by INDRA Systems - Spanish-based information technology and defence systems company.

Speaking on the ocassion, Ravi Parthasarathy, Chairman, CII National Mission on Smart Cities and Chairman IL&FS highlighted the fact that whereas urbanization across the world has witnessed concentrated business centres with distant urban suburbs, India is witnessing rapid growth of urban centres which are ever increasing in size.

Parthasarathy called for immediate creation of arterial and inter-city roads, which, in turn would require significant expenditure.

He also added that only through integration of these components with transport sub-systems, along with Mass & Light Transit systems that we can have decongestion in the Indian cities and at the same time make them environment friendly and liveable.

H.E. Gustavo De Aristegui, Ambassador of Spain to India said highlighted the proven Spanish competency in High Speed Railway and Sustainable metro systems across the world.

The Ambassador also shared that Spanish firms are market leaders in India in some of the verticals and expressed hope that this MoU would not only stimulate the ongoing Smart City Mission in India but would foster stronger economic relationship across other verticals as well.

Also read:

Malaysia to invest $ 30 bn in urban development

China's Sany Group commits $ 5 bn investment in India

Japan plans heavy investment in MP