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The Karnataka government has allocated INR 7,000 crore to Bengaluru Smart Infrastructure Ltd (B-SMILE), a special purpose vehicle aimed at executing large-scale infrastructure projects in Bengaluru. The funding is designed to draw private investments, enhance project execution, and streamline land acquisition. With a dual-agency model involving the BBMP and BDA, B-SMILE is set to accelerate the city's infrastructure development. The initiative aims to offer greater financial autonomy and operational efficiency, with hopes to set a precedent for other urban SPVs in India.
Bengaluru Smart Infrastructure Ltd (B-SMILE), a special purpose vehicle (SPV) designed to implement major infrastructure projects in Bengaluru, has received a financial commitment of INR 7,000 crore from the Karnataka government. This initial funding is expected to attract more private investments, accelerating infrastructure development in the city. Advertisement
The dual-agency model, which combines the Bruhat Bengaluru Mahanagara Palike (BBMP) and Bengaluru Development Authority (BDA), will provide greater financial autonomy and enhance the efficiency of project execution. This collaboration will focus on land acquisition and the development of large-scale infrastructure, including projects under the AMRUT 2.0 scheme.
B-SMILE will be led by a full-time Chief Executive Officer, likely an IAS officer. Its board will comprise key city officials, including the Mayor, BBMP Commissioner, BDA Commissioner, BWSSB Chairman, and BESCOM's MD.
This setup is anticipated to streamline project execution, improve transparency, and expedite the tendering process. Authorities are hopeful that B-SMILE will issue its first tenders in the second half of 2024. The government aims for this model to serve as a benchmark for establishing similar urban SPVs across India, thereby fostering development and growth in other cities as well.
By employing a dual-agency model with BBMP and BDA, the initiative seeks to expedite land acquisition and project implementation, enhancing financial autonomy. The move is poised to set a new standard for urban infrastructure in India, with B-SMILE potentially acting as a model for other cities striving to accelerate their development.
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