• search
For Quick Alerts
For Daily Alerts

Govt. to pay for 20 per cent cost of mega development projects under PPP model

By Super Admin

New Delhi, Aug.19 (ANI): Union Urban Development Minister S. Jaipal Reddy on Wednesday said the government is ready to offer 20 percent of the cost of mega development projects if taken up as a public-private partnership (PPP).

Reddy said that in Mumbai some metro rail projects have been taken up as a private-public partnership and Hyderabad is also following suit.

The government is ready to encourage such gigantic projects so that they become commercially viable.

"In cases where such schemes are taken up, such gigantic schemes in PPP (Public Private Partnership) model we are giving 20 percent of the total cost of project by way of subsidies so that these mega projects can become commercially viable," said Jaipal Reddy in the capital.

Reddy had earlier suggested an equity between the central and state governments, on the lines of the Delhi Metro model, which, in fact, had been considered and shelved earlier by the Mumbai etropolitan Region Development Authority (MMRDA). (ANI)

For Daily Alerts
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more