Nashik: Centre Approves ₹1,121 Crore City Development Projects Under Urban Challenge Fund

The Union Ministry of Housing and Urban Affairs approved ₹1,121 crore in urban infrastructure projects for the Nashik Municipal Corporation (NMC) under the Urban Challenge Fund (UCF) scheme.

The NMC plans to raise ₹200 crore each through two municipal bonds: the ‘NMC Clean Godavari Municipal Bond’ and the ‘NMC Sustainable Water Green Municipal Bond’.

Projects include a water treatment plant, Clean Godavari Initiative, bio-methanation plant, Ram Kund Path redevelopment, logistics hub, urban transport improvements, and smart car parking.

Funding comprises ₹277.90 crore from UCF, ₹400 crore from bonds, ₹222.16 crore from PPP, and ₹217.80 crore from the NMC and state government.

The ‘Nashik Urban Infrastructure Improvement Project – Phase 1’ aims to strengthen water supply, sanitation, transport, and prepare for the Simhastha Kumbh Mela.