SRFDCL

In May 1997, the Ahmedabad Municipal Corporation launched a Special Purpose Vehicle (SPV) - the Sabarmati Riverfront Development Corporation Limited (SRFDCL) under Section 149(3) of the Indian Companies Act, 1956. The SRFDCL was provided with a seed capital of Rs. 9 crore and entrusted with the responsibility of developing the riverfront on a Build, Maintain, Operate and Transfer (BMOT) basis. The SPV model was used to avoid the delays associated with municipal decision-making. Riverbed land, which was originally held by the Government of Gujarat, was transferred to the AMC. AMC has, in turn, granted development rights to SRFDCL for this reclaimed land... Project Objectives Environmental Improvement Reduction in erosion and flood to safeguard the city sewage diversion to clean the river water retention and recharge. Read More Social Upliftment Activities created of parks and public spaces provision of socio-cultural Amenities for the city. Read More Sustainable Development Generation..

Primary location: Ahmedabad India