The Hindu 27.11.2014
Corporation gets loan for UGD, water supply scheme works
The loan is repayable over a period of three years
The Tamil Nadu Urban Infrastructure Development
Corporation Limited (TUFIDCO) has sanctioned Rs. 9.85 crore, as
interest-free loan, to the Salem Corporation for executing the Mettur –
Salem Dedicated Water Supply Scheme and underground drainage work.
The
City Municipal Corporation is implementing the dedicated water supply
scheme and the underground sewerage scheme at a cost of Rs. 320.54 crore
and Rs. 149.39 crore respectively.
As per the
funding pattern, the Corporation has to contribute Rs. 3.5 crore for
water scheme and Rs. 7.8 crore for UGD scheme. So far, the Corporation
has spent Rs. 4.4 crore for the water scheme and has to contribute the
remaining Rs. 10.93 crore.
Since the Corporation was
cash-strapped, it passed a resolution in September 2013 urging the
government to sanction the loan under the Integrated Urban Development
Mission scheme.
Based on the request, TUFIDCO
sanctioned Rs. 3.05 crore for water scheme and Rs. 6.8 crore for UGD
works apart from a grant of Rs. 1 crore for the UGD work. The loan is
repayable over a period of three years in equal instalments and the
State Quality Monitors, appointed by TUFIDCO, would monitor the progress
of these schemes regularly.