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Shapoorji Pallonji Group bags three smart city projects

Friday, 15 Mar 2019

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The Shapoorji Pallonji Group has bagged three smart city projects worth more than Rs 2,500 crore. The projects have been bagged for Varanasi, Uttar Pradesh; Bengaluru, Karnataka and Eluru in Andhra Pradesh.

The company is working on a slew of concepts, including setting up a smart city surveillance system, smart grid and energy management as well as solid and water waste management to be part of these projects.

The smart city projects bagged by the company will be developed at the cost of Rs 150 crore in Varanasi, Rs 1,000 crore in Bengaluru and Rs 1,400 crore in Eluru. The company has set up a city surveillance and traffic management system, which will aid local police in managing traffic in Varansai. The company will also replace 10,000 street lights with LEDs towards saving energy costs.

For the Bengaluru project the company will replace five lakh street lights with LEDs, which is to be completed in 30 months.

The smart city project in Eluru is another big project which includes employment generation and projects to create social impact. The company will also work on water supply, waste water management, flood management, smart grid and energy management, affordable housing, smart solid waste, safety and security and city beautification.

The company is looking to raise Rs 850 crore over the next six months to fund Bengaluru and Eluru projects. It plans to raise Rs 450 crore for Eluru project and Rs 400 crore for Bengaluru project. Both are BOT projects and will be funded by debt.