SPV to be led by Mahendra Jain

A detailed project report was being prepared for final approval at a meeting on 16 January 2018 for the development of a smart city in Bengaluru for which a Special Purpose Vehicle (SPV) has been formed.

Bengaluru is among 30 cities to be deemed as Smart Cities in the country last year. It has been allotted Rs.1,700 crore to implement this infrastructure-based projects including technology-enabled features.

The development KR Market will be integrated along with Metro terminal to make it more user-friendly, said Mahendra Jain, Additional Chief Secretary, Urban Development Department.

Along with the KR Market, Russel Market will get a face-lift and Swathantrapallya slum will be developed in the first phase.

Bruhat Bengaluru Mahanagara Palike (BBMP) Commissioner N Manjunath Prasad will lead the SPV, the first meeting of which will be on 16 January.

The SPV will plan, appraise, release funds, implement, manage and operate the development. fii-news.com