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Soon in the Chennai city, flood reduction projects to get funding
Posted on: 14/Jun/2019 10:15:45 AM
In the year 2015, Chennai city grabbed many eyeballs because of severe floods is known. For the last 4 years, many efforts are being taken by the government to prevent or reduce floods in Chennai. In this scenario, this piece of news would surely bring cheers on the residents of Chennai city. It is important to mention that Chennai city would soon get the disaster mitigation and civic projects under the Indo- German Bilateral Development Cooperation.
The superb information collected is funding for flood mitigation projects in different parts of Chennai city would be cleared as the delegation of the Federal Ministry of Economic Cooperation and Development from Germany would be visiting India in this week. In New Delhi, on Thursday, 13th June 2019, a tripartite meeting took place and in that meeting Mr. G. Prakash, Chennai Corporation Commissioner and Mr. Nandakumar, chief engineer participated. The meeting also saw the presence of representatives from the department of economic affairs and German development bank KfW. The objective was to receive the funding for the projects.
It was later pointed out by an official that by the end of the month of October many KfW funded projects would be signed for loan tie ups. To access the storm water drainage, team of officials belonging to Germany would be visiting Chennai city in the first week of July 2019. An official spoke about how it was a step by step process and how the feasibility study was completed by KfW. For the preparation of cost estimates and bid documents, design consultancy services would be appointed by KfW. Point to be noted is the project would get Rs 1230 crores as funds.
Important information gathered is atleast 70 percent of funding would be from KfW and 30 percent of funding would be from the central government, state government and from the corporation of Chennai.
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