Housing Ministry Issues Advisory on Repurposing Smart City SPVs
Real Estate

Housing Ministry Issues Advisory on Repurposing Smart City SPVs

The Union Housing and Urban Affairs Ministry has issued an advisory to repurpose the Special Purpose Vehicles (SPVs) created under the Smart Cities Mission (SCM), aiming to align them with broader urban development priorities at city and state levels. States and Union Territories have been encouraged to identify their urban sector goals and assess where SPVs can continue to provide strategic support.

The advisory outlines five key areas for future engagement: technology support, project implementation, consulting services, research and assessment, and investment facilitation.

Since its launch in 2015, the SCM has promoted innovation and integrated infrastructure at the city level. SPVs were responsible for planning, developing, and executing projects under the mission and have proven effective in delivering complex, multi-sectoral initiatives.

Given the substantial investment in building and strengthening SPVs and Integrated Command and Control Centres (ICCCs), and their increasing importance in assisting Urban Local Bodies (ULBs) with evolving urban issues, the ministry has recommended that these entities continue to function even after the official conclusion of the SCM on March 31.

The advisory also includes a roadmap for the continued operation of ICCCs and emphasises the need to leverage the institutional and technical capabilities developed within SPVs to address future urban challenges.


News source: The Print

"Join industry leaders at RAHSTA Expo, India's premier platform for roads, highways and traffic infrastructure. Register now to explore innovations, network with experts and shape the future of mobility."

The Union Housing and Urban Affairs Ministry has issued an advisory to repurpose the Special Purpose Vehicles (SPVs) created under the Smart Cities Mission (SCM), aiming to align them with broader urban development priorities at city and state levels. States and Union Territories have been encouraged to identify their urban sector goals and assess where SPVs can continue to provide strategic support.The advisory outlines five key areas for future engagement: technology support, project implementation, consulting services, research and assessment, and investment facilitation.Since its launch in 2015, the SCM has promoted innovation and integrated infrastructure at the city level. SPVs were responsible for planning, developing, and executing projects under the mission and have proven effective in delivering complex, multi-sectoral initiatives.Given the substantial investment in building and strengthening SPVs and Integrated Command and Control Centres (ICCCs), and their increasing importance in assisting Urban Local Bodies (ULBs) with evolving urban issues, the ministry has recommended that these entities continue to function even after the official conclusion of the SCM on March 31.The advisory also includes a roadmap for the continued operation of ICCCs and emphasises the need to leverage the institutional and technical capabilities developed within SPVs to address future urban challenges.News source: The Print

Next Story
Infrastructure Urban

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Next Story
Infrastructure Transport

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Next Story
Infrastructure Transport

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement