Faridabad: Faridabad, under the mission of smart city, the municipal corporation has step up to make Special Purpose Vehicles (SPV) Company. The SPV will do all works for smart city and the Nigam Corporation will not interfere in its work. In this regard a meeting has been held on Nov-27 in Panchkula and the draft of the SPV may final in the meeting. The Nigam officials have completed a list of the departments as well as draft which will be included in the SPV.
Actually, the SPV is a company, which would function by the center for the smart city project. The Delhi Metro Railway Corporation is the first SPV Company in the country and the SPV is being prepared on the similar lines for smart city. The SPV will be given independent authority for this project and the company will remain far from political approach. This company will be registered as a Private Limited under the company Act- 2013. Representative of different departments will be a member in this company and also a CEO will be appointed separately who keeps an eye on all works. In this meeting, the Town and Country Planning, Public Health, PWD, Finance and Urban Development officials will participate.
SPV Company makes for Smart city
