Bank approves Rs 250 crore to AMC for Smart City

Aurangabad, March 16:

It was mandatory for the Aurangabad Municipal Corporation (AMC) to contribute Rs 182 crore in the Smart City scheme before March 31. The process of borrowing loan of Rs 250 crore was started. The Central Bank of India on Wednesday gave the green signal to the loan. The amount was also credited to the corporation’s account.

Municipal administrator Astik Kumar Pandey said that the corporation was preparing to take a loan of Rs 250 crore for its share in the smart city. It was decided to take this loan from a nationalized bank. The state government recently approved the process. The urban development department approved the proposal of the corporation.

491 crore fund to Smart City

The Smart City plan is worth Rs 1,000 crore. It was decided that the Central government should contribute Rs 500 crore and State and AMC should contribute Rs 250 crore each. So far, the Central government has given only Rs 294 crore and the State government provided Rs 147 crore. Initially, the corporation paid only Rs 68 crore out of Rs 250 crore. Meanwhile, Rs 309 crore is yet to be received from the Central and State governments. The corporation will also contribute Rs 182 crore in one to two days. Therefore, a fund of Rs 491 crore will be available for Smart City.

Deadline of March 31

The Central government has ordered that no new work order should be issued after March 31. Therefore, Smart City published a tender for Rs 317 crore roads. Tenders for other works will also be published soon. The administration tends to issue maximum work orders before March 31.