Nashik: Urban infrastructure projects worth ₹1,121 crore proposed by the Nashik Municipal Corporation (NMC) have received approval under the Union Ministry of Housing and Urban Affairs' ‘Urban Challenge Fund’ (UCF) scheme. While ₹277.90 crore for these projects will be made available through the UCF, the remaining funds will be raised via municipal bonds, Public-Private Partnerships (PPP), and contributions from the municipal corporation and the state government.
The innovative fundraising model devised by the municipal corporation is being discussed across the state and could serve as a model for other cities. The corporation plans to raise ₹200 crore each by issuing two bonds: the ‘NMC Clean Godavari Municipal Bond’ and the ‘NMC Sustainable Water Green Municipal Bond’.
Nature of the Projects
The ‘Nashik Urban Infrastructure Improvement Project – Phase 1’ focuses on strengthening water supply, river rejuvenation, sanitation, urban transport, environmental protection, renewable energy, and public amenities. The scope also includes essential works required in preparation for the Simhastha Kumbh Mela. Fundraising Breakdown
- Municipal Corporation Bonds: ₹400 crore
- PPP: ₹222.16 crore
- Municipal Corporation and State Government Share: ₹217.80 crore
- UCF: ₹277.90 crore
Key Projects
- Water Treatment Plant and related works: ₹400 crore
- Clean Godavari Initiative: ₹225 crore
- Bio-methanation and Power Generation Plant: ₹10 crore
- Ram Kund Path Redevelopment (Phase-2): ₹62.51 crore
- Logistics and Transport Hub Development: ₹175.50 crore
- Urban Transport Improvement Project: ₹205 crore
- Smart and Multi-level Car Parking: ₹43 crore
Municipal Commissioner Manisha Khatri said, "The approval of the Urban Challenge Fund is a matter of pride for Nashik. This success has been achieved through planning, financial discipline, innovative fundraising, and coordination among all stakeholders. We are committed to transforming Nashik into a more capable, clean, sustainable, and future-ready city using these funds."
This project will prove crucial in strengthening the city's infrastructure ahead of the Simhastha Kumbh Mela. With the approval secured, the projects are expected to be implemented rapidly.
