‘NMC to raise Rs 450 cr from capital market’
   Date :09-Jan-2025

NMC to raise Rs 450 cr from capital
 
Staff Reporter :
 
The funds would be used to meet requirements of Swachh Bharat Mission projects and rejuvenation of Pohra river. NMC securing soft loan from international agencies too, says Municipal Commissioner Dr Abhijeet Chaudhari. 
 
Nagpur Municipal Corporation (NMC) is scouting the financial market for Rs 450 crore to meet its obligations for the Pohra River pollution abatement project. Additionally, the civic body also has to raise funds for meeting its obligation under Swachh Bharat Mission-2, informed Municipal Commissioner and Administrator Dr Abhijeet Chaudhari during media interaction at NMC on Wednesday. Pohra is a big ticket project and taken up under Amrut-2 wherein total outlay is pegged at around Rs 957 crore, of which, the civic body has to contribute 50 per cent of the cost. Balance 50 per cent funds are coming from Central Government and State Government in equal measure. Dr Chaudhari mentioned that apart from financial agencies within the country, the civic body is also scouting the international market.
 
“The aim is to get lowest rate of interest so that repayment should not add to the financial burden of NMC,” he said. On bifurcation of the funds, he said, “Total contribution for Pohra from NMC would be Rs 478.51 crore, while Rs 239.25 crore would be received from Central and State Government respectively. NMC is awaiting balance fund of around Rs 300 crore from the 15th Finance Commission. Once the fund is received, it would provide financial cushion to NMC,” added Dr Chaudhari. Apart from Pohra, the NMC has also identified Nag river for combating the pollution and for the same, consultant has been appointment. Pohra river area primarily covers Nagpur South West and Nagpur South Assembly segments, wherein plan is to lay new sewage network and also install sewage treatment plants so that the river water remains free from pollution. To a question, he said, “As to Nag river, the consultant has started engineering work relating to survey of the river stretch and also the area from where new sewage network is to be laid.
 
Once the mapping is done, the tender process would begin and for the same, five stages have been identified by the Government. In future, NMC might also need to raise funds from the market for meeting 15 per cent contribution of nearly Rs 1,927 crore for the Nag river pollution abatement project.” But, as of now, on Nag river, the project envisages laying interceptor, enhancing STPs capacity to 72 MLD, diverting all outlets opening into river to STPs, laying new sewage network which will be nearly 1,500 to 2,000 kms long. Dr Chaudhari added that, if need arises, the encroachments on river bed, those that are blocking water flow, would also be removed. Also, NMC will start the recruitment to fill in the vacancies, mostly technical manpower as same would come handy in enhancing field presence. The civic body also expects arrival of new lot of e-buses from this year onwards and a team is leaving for verifying the prototype prepared by the company.
 
The tender for running the buses has also been finalised and fixed at Rs 64/km. NMC is also awaiting nod from Urban Development Department (UDD) regarding lowering of physical attributes for recruitment of new firemen, as Fire Brigade is severely under staffed. Municipal Commissioner also informed that civic administration has enmass promoted persons appointed on compassionate grounds to Group C posts from earlier Group D posts, taking into consideration their educational qualification. In future, NMC will directly appoint compassionate appointed employee to Group III post. On the controversy surrounding manipulation in data about reduction of legacy waste, Commissioner said he personally visited Bhandewadi earlier in the day and inspected the site where bio-mining work is on. To counter any chances of data manipulation, NMC has directed the company to share SCADA link and also affix GPS on the vehicles used for transporting waste.
 
Besides, it has also been decided to appoint third party to keep a watch on bio-mining work and the cost will be footed by the company itself. About the contentious hawkers matter, Commissioner was of view that Town Vending Committee would have to decide on number of hawkers to be given the license. Once the process is complete, then the notified hawkers zone can see actual presence of hawkers and enable civic body to evict those operating outside the demarcated area.