Essel Infraprojects has suggested an overarching special purpose vehicle (SPV) to develop smart cities through a public-private-partnership model.
Kamal Maheshwari, President, Business Strategy, Planning and Business Development at Essar Infraprojects was quoted as saying “PPP is a very recognised approach. The smart city mission document also recommends it. We are saying the SPV can look at all aspects of project implementation including having a financial partner.”
“This way, the Central and State governments' contribution of Rs 500 crore each plus the private partner's contribution turns into Rs 2,000 crore equity in the SPV, in turn enabling the entire project to raise another Rs 8,000 crore. Maheshwari added.
TE Connectivity (TE), a world leader in connectivity, will be highlighting its innovative industrial connection technology products and solutions at the SPS IPC Drives 2015 in November. Visitors to booth number 210 in hall 10, will also be able to learn more about TE’s projects in the areas of Industry 4.0 and the Industrial Internet of Things (IIoT).
"Our goal is to promote cost-effective production processes by innovative engineering connection technology that is intelligent, robust and easy to use,"said Craig McDonnell, vice president and general manager of TE Industrial Automation & Control unit."
At SPS IPC Drives, we will showcase three new products designed to meet this goal, as well as a number of applications for machines, automation and control that demonstrate the capabilities of TE's key products and solutions.” he added.