Published On:March 15 2019
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Shapoorji Pallonji Group bags smart city projects worth over Rs. 2,500 crore.

 Shapoorji Pallonji Group bags smart city projects worth over Rs. 2,500 crore.

The Shapoorji Pallonji group has bagged three smart city projects in Varanasi, Bengaluru and Eluru (Andhra Pradesh) worth more than Rs. 2,500 crore The infrastructure major is working on a slew of concepts, including setting up a smart city surveillance system, smart grid & energy management as well as solid & water waste management to be part of these projects.

“We currently have 3 smart city projects at Varanasi, Bengaluru and Eluru worth Rs. 2,550 crore. Of this, Varanasi is worth Rs. 150 crore, Bengaluru Rs. 1,000 crore and Eluru is Rs. 1,400 crore,” Shapoorji Pallonji group’s senior director (operations) Debasis Mitra told FE.

Mitra explained that in Varanasi the Mumbai-based company has set up a city surveillance and traffic management system, which will aid the local police in managing traffic in the city. The company will also replace 10,000 street lights with LEDs towards saving energy costs.

Elaborating on the Varanasi project, Shapoorji Pallonji’s head of IT, Krishna Kamath, said the under the city surveillance system, cameras has been installed at 110 locations. “Besides, there will be an intelligent and adaptive traffic management at 21 junctions, which includes identification of traffic violations and e-challan of offenders,” he added.

For the Bengaluru project, Shapoorji Pallonji’s vice president & head (smart cities) B S Sudhanvan said that the company will replace 5 lakh street lights with LEDs, which is to be completed in 30 months.

“It is a big project and will result in huge savings for municipal corporation in energy costs. We will be doing operations & maintenance (O&M) for 10 years,” he added.

The smart city project in Eluru is a another big project which includes employment generation and projects to create social impact, Sudhanvan said. The company will also work on water supply, waste water management, flood management, smart grid & energy management, affordable housing, smart solid waste, safety & security and city beautification, he added.

On funding for projects, Mitra said that Shapoorji Pallonji is looking to raise `850 crore over the next six months to fund the Bengaluru and Eluru projects.

“We plan to raise Rs. 450 crore for the Eluru project and Rs. 400 crore for Bengaluru project. Both are BOT projects and will be funded by debt. We are approaching multiple lenders, including IFC,” he added.

The group, with a turnover of over $6 billion, is a diversified infrastructure and construction company with experience in commercial, industrial and residential projects. Its landmark projects include Trident Hotel, Taj Mahal Palace Tower, Brabourne Stadium (all Mumbai) and Palace of the Sultan of Oman.

THE FINANCIAL EXPRESS





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