Smart City projects worth Rs 518 bn under implementation

Thu, 2018-12-20 14:27 -- SCC India Staff

SCCI

India has completed around 33 per cent of the total 5,151 Smart City Mission projects or are currently under implementation, utilizing around 25 per cent of the envisaged investment. Around 2,342 projects worth Rs 909.29 billion have been tendered. Out of these, 1,675 projects worth Rs 518.66 billion are currently being implemented or have been completed, according to data presented by the Ministry of Housing and Urban Affairs to the Lok Sabha. Hence, 3,476 projects have either only been tendered or have not gone through the tendering process.

The Ministry told Parliament, “The pace of implementation of projects has picked up significantly during the last one year. There has been a 290 per cent increase in projects tendered, 332 per cent increase in projects grounded/completed and 479 per cent increase in projects completed since October 2017.”

“It takes around 12-18 months to set up a special purpose vehicle (SPV), procure project management consultants (PMC), hire necessary people, call tenders and issue work orders,” the Ministry added.