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ADB may fund PCMC projects

DNPUN25455 | 4/14/2010 | Author : Archana Dahiwal | WC :191 | Politics & Governance

Shows interest in mass transport system plans

The Asian Development Bank (ADB) has shown interest in providing loan to PCMC Infrastructure Company Private Ltd, the special purpose vehicle (SPV) floated to implement different projects under the mass transport system, especially the Bus Rapid Transport System.
"The ADB has shown interest in providing loan but it has laid down various conditions and one of them is the formation of a SPV. The main objective of forming the company is to raise funds for development without taking funds from PCMC's annual budget,'' PCMC officials said.
Pimpri-Chinchwad mayor Yogesh Behl who is the president of the company, chaired the meeting. PCMC commissioner Ashish Sharma, standing committee chairman Prashant Shitole and other committee members who are also on the board of the company were present.
Sharma told DNA that the agenda of the company and the issue of mobilising financial resources were discussed.
The PCMC under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM) has approved the two BRTS routes— Aundh-Ravet and old Mumbai-Pune Road.
Apart from assistance from the ADB, the company will raise the funds for the mass transport through FSI of road side building as well as through advertising.

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