About 97 SPVs formed to execute projects under smart cities mission

As many as 97 special purpose vehicles (SPVs) have so far been constituted to execute projects in cities selected under Smart Cities Mission, according to housing and urban affairs ministry. Tenders have been issued for another 1,686 projects worth more than Rs 63,000 crore in various smart cities while 1,200 projects worth more than Rs 38,000 crore are under implementation, it said. The ministry has announced 100 cities for central assistance under the BJP government's flagship programme. It was launched by Prime Minister Narendra Modi in June 2015.