PMC set to form SPV for riverfront project

Siddharth Gadkari
Sunday, 4 February 2018

Pune: The Pune Municipal Corporation (PMC) has decided to form a special purpose vehicle (SPV) for the Mula-Mutha Riverfront Development Project. The plan has been modelled after the Sabarmati Riverfront Project in Ahmedabad. The PMC has already given a contract to HCP Design, Planning and Management Pvt Ltd at a cost of Rs 3.96 crore to prepare a detailed project report (DPR). 

Now, the civic body wants to set up a company to collect funds for the project from private and government agencies.

Pune: The Pune Municipal Corporation (PMC) has decided to form a special purpose vehicle (SPV) for the Mula-Mutha Riverfront Development Project. The plan has been modelled after the Sabarmati Riverfront Project in Ahmedabad. The PMC has already given a contract to HCP Design, Planning and Management Pvt Ltd at a cost of Rs 3.96 crore to prepare a detailed project report (DPR). 

Now, the civic body wants to set up a company to collect funds for the project from private and government agencies.

The Municipal Commissioner has tabled a proposal before the Standing Committee to form the SPV for the Mula-Mutha Riverfront Development Project. The civic administration has sought permission to transfer the ownership of the riverbed and riverfront from the State government to the SPV. 

The civic administration has nominated the Mayor, the Standing Committee Chairman, the Leader of the House, the Opposition leader and the municipal commissioners of Pune and Pimpri-Chinchwad, the PCB CEO, the Divisional Commissioner, the PMC city engineer, experts from the field of river development and conservation as the directors of the SPV. 

In 2015, the PMC had given the green signal to develop the Mula-Mutha riverfront on the lines of Sabarmati riverfront. HCP Design, Planning and Management Pvt Ltd has carried out the Sabarmati project. It had given a presentation on the issue to the civic administration and various party leaders.  

Later, the company was awarded the contract to work as a consultant to the PMC to develop the 
riverfront.

The company had successfully implemented the project from the planning to execution stages.

Mula-Mutha flows through the PMC, PCMC, Khadki and Pune cantonment limits for a length of 44 km. At present, the river has been channelised.

The DPR that the contractor will prepare includes a riverfront improvement plan, conservation and beautification of the riverfront, to conduct a hydraulic survey, to take all necessary permissions from the authorities concerned and form the SPV.

Before implementing the project, the PMC will have to get the flood lines of Mula-Mutha redrawn from the State Irrigation Department. Multiple agencies, including the irrigation department, which owns the river, the State government, two cantonment boards and the PCMC will be involved in the project. 

The consultant contractor will engage citizens, NGOs, parties and experts while implementing the project.

Funds for the project will be raised through various sources such as loans, allotting land for commercial purpose along the river banks, which has also been done in the Sabarmati riverfront development.

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