Overview
- The Nashik Municipal Corporation will raise Rs 400 crore to meet part of its roughly 25% contribution to a development plan proposed at about Rs 15,000 crore for the 2027 Simhastha Kumbh Mela.
- The financing is split into Rs 200 crore Clean Godavari bonds for sewage treatment and Rs 200 crore Green Bonds for water-supply upgrades, with PPPs planned for truck terminals and exhibition centres.
- Incentives under the AMRUT Incentive Award and the Urban Challenge Fund, estimated at about Rs 76 crore per bond, are expected to cover interest costs over five to seven years.
- The Clean Godavari tranche is slated to launch in the market by the end of November.
- During a site visit, Chief Minister Devendra Fadnavis performed bhoomipujan and announced that projects costing over Rs 20,000 crore have been sanctioned, while pressing for the Nashik ring road, Sadhu Village land acquisition, and centralized CCTV with AI for law and order.