Vadodara to get Special Purpose Vehicle for Smart City Mission

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The government of Gujarat has announced the formation  of a Special Purpose Vehicle (SPV) to handle the smart city mission projects in Vadodara. The formation of SPV is mandatory under the mission.

The Vadodara Municipal Corporation (VMC) had earlier sent a proposal to the state government to seek its approval for the SPV. This SPV will be headed by the Municipal Commissioner.

The SPV team will have a standing committee chairperson, a deputy municipal commissioner, a nominee of the central government, a nominee of the state government, the VMC city engineer, the district collector and the Vadodara Urban Development Authority (VUDA) chairperson or VUDA chief executive authority as directors. The SPV will also appoint a chief executive officer.

VMC has decided to name this SPV as Vadodara Smart City Development Ltd, although the final announcement is yet to take place.

SPV will help in implementing various projects under the smart city mission.  The SPV will be a limited company incorporated under the Companies Act, 2013.

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