PROJECT-Megacity

Megacity

Megacity

Govt. of India had launched the centrally sponsored Mega City Scheme during 1995 and selected 7 cities in the country of which Bangalore was one of them. The guide lines of the scheme is as per central Government notification vide K-14011/35/92-UD-III. GoI MOUD.

Under the Scheme Rs.241.75 crores from Government of India and Rs.241.75 crores from Government of Karnataka were received as Grant.

KUIDFC was appointed as the Nodal Agency for the Bangalore Mega City Scheme.

Total Grant amount of Rs.483.50 crores is lent to different Implementing Agencies as loan for 55 infrastructure projects.

Project Objective

The Mega City Projects envisage overall improvement in the quality of life in urban areas by developing infrastructure facilities

Project Scope

Project Components

Project Funding Arrangement

Mega City Revolving Fund(M C R F)

MCRF is operational from 1/04/2005.

Statuses of Projects sanctioned under the Mega City Revolving Fund are as follows. (30-06-2017)

Total No. of projects sanctioned : 36

Total Cost of projects sanctioned : Rs. 5814.45 crore

Total Loan sanctioned for the projects : Rs. 3051.48 crore

Total Loan released by KUIDFC to various : Rs. 1607.26 crore

Implementing agencies

Total No. of projects completed : 15

Total cost of projects completed : Rs.2493.93rore (loan component: Rs.1216.84 Crore)

Total No. of projects under progress : 11

Total cost of projects under progress : Rs.2277.86 (loan component: Rs.1363.54 Crore)

Total No. of projects Cancelled : 8

Total cost of the Cancelled projects : 1029.06 crore (loan component: Rs.464.30 Crore)

Total No. of projects yet to be taken up : 2

Total cost of the projects yet to be taken up : Rs.13.60 crore(loan component: Rs 6.80 Crore

Progress

Completed projects under Megacity Revolving Fund (MCRF) as on 30-06-2017

Sl. No

Name of the Implementing Agency

Name of the Project

1

BBMP

Development of 17 Lakes

2

BMTC

Construction of 10 TTMC s

3

BMTC

Construction of Passenger Amenity Centre at BTM Layout

4

BMTC

Construction of Depots and 1 Workshop

5

BMTC

Construction of Bus Depots/Terminals/ workshops at nodal points

6

BMTC

Financial support to BMTC for purchase of buses

7

BWSSB

Prevention of Ingression of sewage into SWD of Hebbal Valley area

8

BMRCL

2 slum rehabilitation projects

9

KSRTC

Construction of Satellite Bus Station at Peenya

10

KSRTC

Infrastructure developmental works for KSRTC depots in shanthi nagar

11

BMTC

Swapping of High Cost Bank Borrowings

12

BMTC

Swapping of High Cost Bank Borrowings

13

BDA

Construction of 2 Level Grade separator at Nayandahalli at the intersection of ORR & Mysore Road.

14

BDA

Construction of flyover along ORR at the intersection of Nagavara-Thanisandra, Nayandahalli and other places.

Physical Progress of projects under Mega City Scheme & MCRF

Sl. No

Agency

No of Projects sanctioned

No of Projects completed

Balance

MCS

MCRF

MCS

MCRF

MCS

MCRF

1

Bangalore Development Authority

11

5

11

3

2

0

2

Bruhat Bangalore Mahanagara Palike

23

4

23

1

3

0

3

Bangalore Metropolitan Transport Corporation

10

9

10

7

1

0

4

Bangalore Water Supply & Sewerage Board

4

11

4

1

2

0

5

Bannerghatta Biological Park

1

0

1

0

0

0

6

Karnataka State Road Transport Corporation

1

2

1

2

0

0

7

Karnataka Compost Development Corporation

1

0

1

0

0

0

8

Karnataka Slum Development Board

4

0

4

0

0

0

9

Bangalore Metro Rail Corpn. Ltd.

5

10

Total

55

36

55

15

08

02

Reforms

Reports

Rate of interest for mega city schemes for different categories are as follows.

  • (i) Category A - Remunerative Projects - 6.5 % p.a
  • (ii)Category B - Cost Recovery Projects - 5.5 % p.a
  • (iii)Category C - Service Oriented Projects - 4.5% p.a
  • Rebate is allowed on prompt payment of loan. Door to door tenor of loan will be for 10 years.
  • A moratorium period of 2 years is allowed on the loans and the repayment of loan and interest is made in quarterly instalments over a period, which varies from 3 years to 8 years.
  • The scheme was closed on 31/3/2005 by GoI & was replaced by introduction of JnNURM on 3.12.2005.
  • Under the Guidelines of the Megacity scheme, a ‘Mega City Revolving Fund’ is constituted out of the repayments received from the loans advanced to Implementing Agencies and the interest earnings thereon.
  • The MCRF functions are based on the directions issued by the State Level Sanctioning Committee set- up by Govt. Of Karnataka vide G.O No.HUD 478 MNY 93 dated 25.02.1995 and G.O. No.UDD 67 PRJ 03 (1) Bangalore dated 31.03.2003.
  • The Terms and Conditions of the Mega City Scheme have been incorporated in the Mega City Revolving Fund.
  • Implementing agencies have to prepare a detailed project report of their projects in the prescribed format and submit.
  • There reports will be analysed based on priority such projects will be places before SLSC for sanction of assistance.
  • Status of projects under Mega City Revolving Fund up to (31-07-2018)

    (Rs. in Crores)

    Sl. No

    Name of the IA

    Total No. of Projects

    Total Project Cost

    Loan/ Grants

    Sanctioned

    Loan released

    Principal Repayment Received

    Out standing

    1

    BBMP

    1

    93.10

    46.55

    23.19

    23.19

    00

    2

    BDA

    3

    462.94

    229.88

    204.34

    187.70

    16.64

    3

    BMTC

    8

    2276.10

    1334.16

    1104.10

    409.04

    695.06

    4

    BWSSB

    9

    1793.28

    896.35

    225.31

    61.83

    163.48

    5

    KSRTC

    2

    38.00

    19.00

    19.00

    13.50

    5.50

    6

    BMRCL

    3

    109.09

    54.44

    31.32

    12.56

    18.76

    TOTAL

    26

    4772.51

    2580.38

    1607.26

    707.82

    899.4