The Vizag Municipal
Corporation has passed a resolution to participate in the Rs.340 crore
Visakhapatnam industrial water supply project. The corporation would pick up
24.5 per cent of the Rs.41 crore equity and the rest would be contributed by
the nodal agency, AP Industrial Infrastructure Corporation (APIIC).
The corporation
plans to float bonds worth Rs.40 crore to meet the cost of the project partly.
The project,
which would be executed by Larsen and Toubro, will bring 5 tmc feet of Godavari
waters through the Yeleru canal to meet the requirements of the steel plant,
Simhadri power project and other industries as well as the drinking water needs
of the city.
The Corporation
would expend Rs.100 crore on developing the infrastructure for distribution of
water, which is expected to reach the city by November or December 2003.