Indian Express 17.06.2010
VMC seeks to form company for Vishwamitri project
hitarthpandya Tags : corporation, Vishwamitri project Posted: Thu Jun 17 2010, 02:06 hrs
Vadodara: Following the Sabarmati Riverfront Project model, the Vadodara Municipal Corporation (VMC) has approached the state government seeking approval to convert the Vishwamitri project into a corporate endeavour. A proposal for the same was recently moved and approved in the general board meeting.The VMC has reportedly short-listed three names as per the Companies Act — Vadodara Riverfront Corporation Limited, Vishwamitri Riverfront Development Corporation Limited and Vishwamitri Rejuvenation and Resectioning Corporation Limited. The same has been communicated to the Chief Secretary, Urban Development and Urban Housing Department.
Mayor Balkrishna Shukla told The Indian Express: “We wanted to take up the entire project professionally and that is why it was necessary to convert it into a company. The government is already working on the Sabarmati riverfront project so we have also attached the information of the same along with what we are planning to do. As per the initial estimates, we have submitted a proposal of Rs 450 crore.”
On the need to form a company, he said: “Since the project cost was high and several departments were involved in the project, it was necessary to form a company for its faster implementation.”
The proposal says VMC chairman would head the company with nine directors — mayor, opposition leader, urban development chief secretary, district collector, a town planner, two technocrats and a businessman.
