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Aurangabad, Dec 2:The administrator of Aurangabad Municipal Corporation (AMC) A K Pandey, today underlined that the process to raise funds of Rs 250 crore to contribute its share in Smart City Mission has been initiated. It will be obtaining loans from Asian Development Bank (ABD) and through the selling of Zero Carbon Bonds (or Green Bonds). To achieve Zero Carbon, the Aurangabad Smart City Development Corporation Limited (ASCDCL) will be buying 20 electric buses for tourists as they are zero and low emission vehicles, he said.Aurangabad was shortlisted under Smart City Mission in 2016. Later on, the union Ministry of Housing and Urban Affairs (MoHUA) approved the development works of valuing Rs 1,000 crore to be implemented in the city. Of the total funds, the Central Government okayed a contribution of Rs 500 crore, while the State Government and the AMC will put in Rs 250 crore each. So far, the union and the State Governments released an aid of Rs 294 crore to AMC. However, a few months ago, the Central Government made it clear that it would not be releasing further funds until the AMC deposit its share. the AMC has deposited Rs 65 crore only as its share.The union Ministry of Environment (MoE) has guided to utilise a portion of funds on developing Clean Transportation through buying electric vehicles to reduce pollution in the urban sector. Hence we will be procuring the e-vehicles under the Smart City Mission, said the administrator.Utility of Solar EnergyPandey also mentioned seeking consultation from experts to operate a new water supply scheme on solar energy. If the usage of renewable energy materialises it will reduce the usage of power, cut the cost of energy bills. The testing to operate garbage processing plants on solar energy is also underway, pointed out Pandey, who is also the chief executive officer (CEO) of ASCDCL.

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