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SPVs for ‘smart’ Vizag, Kakinada

Visakhapatnam:  The AP government has constituted a special purpose vehicle each for Vizag and Kakinada as part of the smart cities programme of the Union ministry of urban development. While the SPV for Vizag has been named as the Greater Visakhapatnam Smart City Corporation Limited (GVSCCL), it has been termed as Kakinada Smart City Corporation Limited (KSCCL) for Kakinada.
The GOs released by the AP government on Wednesday said the aim of the smart cities project is to drive economic growth and improve the quality of life of people by enabling local area development and harnessing technology especially technology that leads to smart outcomes. The guidelines of smart city project stipulates to create an SPV for timely implementation of the Visakhapatnam and Kakinada smart city projects on mission mode. Both GVSCCL and KSCCL will comprise a board of directors headed by a non-executive chairman and 14 other directors.
Principal secretary of the state municipal administration and urban development department has been designated as the chairman for the both GVSCCL and KSCCL, whereas district collectors and municipal commissioners of respective districts will also be part of the board along with 11 other members to be nominated by the state government, urban local body and the central government. The special purpose vehicle is owned by state government and the corporations on a 50:50 ratio.

Source By:http://timesofindia.indiatimes.com/