CSMC Secures Rs 8.2 Billion Loan For City Water Supply Project
CSMC Commissioner and Administrator G. Sreekanth signed the loan agreement with the Maharashtra Urban Infrastructure Development Company in Mumbai on Thursday, paving the way for the completion of the city’s ambitious water supply plan under the Amrut-2 scheme.
The project, valued at Rs 27.4 billion, is being implemented by the Maharashtra Jeevan Pradhikaran (MJP), which has appointed GVPR Company, Hyderabad, as the contractor. The work is currently in its final stages.
Under the funding structure, the central government will contribute 25 per cent, the state government 45 per cent, and CSMC 30 per cent. Initially, the civic administration had requested the state to cover its share, but the government instead decided to extend it as a loan. The approval process for this loan has been ongoing for nearly nine months.
The loan agreement was signed in the presence of Sunayana Kumbhare, Chief Operating Officer of the Maharashtra Urban Infrastructure Development Company; Tejas Joshi; Sanjay Kolte, Accounts Officer; Kiran Dhande, Executive Engineer (Water Supply); Abhishek Dhekle; and Ankush Bhantalwad, Branch Manager, Bank of Maharashtra.
CSMC has been granted a 20-year repayment period, with instalments to begin after two years, though interest payments will commence immediately.
Commissioner Sreekanth stated that Chief Minister Devendra Fadnavis has set a firm deadline for completing the project. “The loan approval has removed the most critical obstacle in the water supply scheme. The focus now is on strengthening the corporation’s financial position to ensure smooth repayment of the loan,” he said.
The upgraded water supply system is expected to significantly improve access to clean drinking water across the city, enhance distribution efficiency, and support sustainable urban development in Chhatrapati Sambhajinagar.