Govt working on SPV for Smart City project

SHILLONG: The preparation for constituting a special purpose vehicle (SPV) for Shillong Smart City is in progress.
An official with the Urban Affairs Department said the department is working on the SPV to ensure that a committee is fructified at the earliest. The Smart City project for Shillong was approved on June 20.
The official said the state is awaiting a communication from the Centre on the former’s request for 90:10 funding pattern instead of 50:50.
The total project cost is Rs 1,039 crore and the components are urban mobility, clean-green livable neighbourhood, environment protection, tourism initiatives and retrofitting of existing infrastructure.