Summary:
Unless such independence is allowed, it is difficult to implement projects such as smart city,” said a smart city consultant. But other smart city SPVs across the country such as the company in Bhuvaneshwar have been given complete authority to sanction projects worth any amount at any time. Coimbatore: Coimbatore Smart City Limited will soon be able to sanction projects up to Rs 15 crore, thanks to a decision by the state government to entrust additional powers to the special purpose vehicle (SPV) created to implement ‘Smart City’ works. “The state government has decided to empower SPVs to grant sanction to projects up to Rs 25 crore. “Earlier the SPV board from Chennai and other 10 corporations in the state can sanction projects up to Rs 10 crore and Rs 6.5 crore respectively whereas projects above that would go to the state high power committee..