16.08.2017 : Implementation of Smart City projects under way. Rs. 1602 crore will be spent in five years: Hari Narayanan. Smart City projects will be implemented over a period of five years with an outlay of Rs. 1602 crore and the government has so far released Rs. 394 crore, Municipal Commissioner M Hari Narayanan has said. In his address after unfurling the tricolour at GVMC, he said 24X7 water supply, sewage treatment, smart streets, greens space development, underground electric cabling, prevention of erosion, development of the Beach Road and housing for all were the components.
Smart City projects launched. Marking one year of announcement of Smart Cities Mission by Prime Minister, Mr. Narendra Modi, GVMC launched a few projects on June 25, 2016.
Special Purpose Vehicle (SPV) formed for Vizag Smart City for implementing the Smart City Mission, in the name of GREATER VISAKHAPATNAM SMART CITY CORPORATION LIMITED (GVSCCL), a Limited Company incorporated under the Companies Act, 2013 - Date of Incorporation 11.03.2016.
First Phase - Development of an area of 1,700 acres along the Beach Road from Coastal Battery to Kurupam Jn and from Kurupam Jn to Jagadamba Jn (Pedawaltair Main Road, University Main Road, Waltair Main Road) and from Jagadamba Jn (KGH Road, Collector Office Jn) to Coastal Battery. Funding Options - For the first phase budget of around Rs. 2,000 crore, funds will come in from the Centre (Rs. 500 crore); the State government (Rs.500 crore); convergence of schemes (Rs. 800 crore); and from the private sector under PPP projects (Rs. 200 crore). Development of an area of 1700 acres in 5 years with a Budget of around ₹ 2000 crore. funds will come in from the Centre (Rs. 500 crore); the State government (Rs.500 crore); convergence of schemes (Rs. 800 crore); and from the private sector under PPP projects (Rs. 200 crore).
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