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IFC, BSCL team up for Bhubaneswar smart city project

Monday, 21 Aug 2017
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Bhubaneswar Smart City (BSCL), the special purpose vehicle (SPV) for Bhubaneswar smart city project, is set to forge a partnership with International Finance Corporation (IFC). IFC will play the role of a technical transaction advisor for the projects to be developed in public-private partnership (PPP) mode.

IFC will help to develop an ideal institutional financing model for the smart city SPV that will enable the projects to get viable financing, and to guide projects to develop bankability for attracting finances.

IFC will help BSCL in the housing projects to be undertaken in PPP mode at an estimated investment of Rs 2,000 crore.

The proposal for the smart city comprises two components — an area-based proposal for the development of Bhubaneswar Town Centre District (BTCD) and a pan-city proposal for Intelligent City Operations and Management Centre (ICOMC).

The BTCD plans to retrofit and redevelop 985 acre centered around the main railway station in the heart of the city into a vibrant 24x7 destination.

ICOMC will provide a digital platform for integrating multiple city sub-systems of traffic management, parking, and bus operations among others, along with seamless integration of BTCD's utility operation requirement.

The smart city proposal will entail an investment of Rs 4,537 crore, which includes Rs 4,095 crore for BTCD and Rs 442 crore for ICOMC.

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