State Govt approves Formation of SPV For Dehradoon Smart City

The government of Uttarakhand has now given approval for the formation of Dehradun Smart city limited company as a special purpose vehicle to implement the much anticipated, smart city project.

Garhwal commissiner would head the Dehradun Smart City Limited Company, which would have Mussoorie-Dehradun Development Authority VC, additional Secretary urban development, additional director of Urban Development and Commissioner Nagar Nigam as the Directors.

This move will enable both the urban bodies Mussoorie-Dehradun Development Authority (MDDA) and Dehradun Municipal Corporation (DMC) to be equal shareholders in the Smart City project.

Urban Development Minister, Madan Kaushik added, “The urban bodies have a greater role to play in the city’s development. Both the entities will have equal stake in the city’s development. The company will be registered shortly.”

The MDDA was keen to have a larger share in the Special Purpose Vehicle (SPV), which would be registered as a limited company under the Companies Act, 2013, for implementation of the project.  

This would be followed by a formal application to the state government for delegating powers to the company.

BW Online Bureau

BW Reporters