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SPV Formed for Implementation of Smart Cities Plans
Feb 25, 2016

Madhya Pradesh and Rajasthan have taken the lead in setting up Special Purpose Vehicles (SPV) for the implementation of Smart City Plans of the cities who have won in the first round of competition for selection of cities.

  • SPVs have been set up for Jabalpur, Indore and Bhopal in Madhya Pradesh and Jaipur and Udaipur in Rajasthan. 

  • These cities have been among the first batch of 20 winners of Smart City Challenge Competition announced on January 29. 

  • SPVs for the remaining 15 cities will be formed in the next two weeks. 

  • Ministry of Urban Development will release Rs.200 cr for each of the 20 selected cities only after SPVs are set up. 

  • SPVs to be registered under the Companies Act, 2013 will have 50:50 equity by the states and respective urban local bodies. 

  • Private equity is also allowed but the management control will rest with the Governments only. 

  • SPVs are required to be set up under Smart City Mission Guidelines to ensure timely and efficient execution of plans with operational freedom. 

  • They approve, sanction and execute the projects besides mobilizing resources from various sources.

  • Madhya Pradesh has set up a 12 member SPV for each of the three cities. 

  • Rajasthan has set up an 11 Member SPV for Jaipur and a 13 Member body for Udaipur. 

Ministry of Urban Development also organized a day long workshop in which 23 cities participated in the ‘Fast Track Competition’ interacted with first batch of 20 smart city winners for ‘peer learning’ about making winning proposals. 

One top ranked city from each of the 23 States and UTs that could not win in the first round are participating in this accelerated round of competition, under which these 23 cities have to submit revised proposals to the Ministry of Urban Development by April 15 this year.

These 23 cities advised on how to bridge the identified gaps in their Smart City Plans earlier submitted and evaluated in the first round of competition. 

Areas required to be improved include-financing plans, convergence of different schemes of central and stage governments, smart solutions and frugal solutions, consistency of area development plans etc. 

The 23 cities participated in the ‘Fast Track Competition’ were : Warangal (Telangana) ranked 23 in the first round of competition, Chandigarh (24), Lucknow (29), New Town, Kolkata (30), Panaji (32), Pasighat, Arunachal Pradesh (39), Dharamshala, HP (59), Raipur (62), Bhagalpur, Bihar (65), Karnal, Haryana (66), Shillong (70), Namchi, Sikkim(71), Port Blair(72), Diu (74), Oulgaret, Puducherry (75), Silvassa (78), Imphal (83), Ranchi (84), Agartala (85), Kohima (90), Aizawl (93), Kavaratti (95) and Dehradun (97).

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