
Maiden Prayagraj municipal bond oversubscribed 4.4 times
The maiden municipal bond issued by Prayagraj Municipal Corporation has been oversubscribed 4.4 times as it received bids worth ₹221 crore against the offer size of ₹50 crore, a senior official in the state government said and credited the success to the organisation of the Mahakumbh in the state earlier this year.
The bond was issued on the Bombay Stock Exchange's Electronic Bidding Platform and achieved a cut-off coupon rate of 8.07%—the lowest ever for a municipal bond in Uttar Pradesh. The funds raised will be directed towards the construction of a ₹76.54 crore super-specialty hospital in Naini under a Public-Private Partnership (PPP) model, with the bond covering ₹50 crore of the project cost,
Principal secretary of the urban development department Amrit Abhijat said: 'The overwhelming investors' faith in the Prayagraj municipal bond is due to the effectiveness of our urban reforms and financial discipline. Mahakumbh-2025 demonstrated our ability to deliver world-class infrastructure and services, and this success is now translating into capital market trust.'
The hospital, to come up in Naini, is expected to cater to over 1.5 million residents of Prayagraj and nearby regions and generate employment for 600–700 families. 'This facility draws on the globally acclaimed health infrastructure model of Mahakumbh 2025 and will further strengthen the city's capacity to manage large-scale events and health emergencies,' Abhijat added.
So far in this fiscal year, urban local bodies in the state have collectively generated ₹5,550 crore in revenue, a sign of improving fiscal autonomy.
The hospital project will generate ₹11–12 crore annually in revenue for the Municipal Corporation, ensuring a sustainable financial model while serving essential healthcare needs.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


New Indian Express
2 hours ago
- New Indian Express
First e-waste eco-park to process up to 51K MT waste annually: Delhi minister Sirsa
NEW DELHI: In a step towards sustainable development and circular economy, the Delhi government has announced plans to develop India's first integrated E-Waste Eco Park at Holambi Kalan in north-west Delhi. Spread across 11.4 acres, the state-of-the-art facility will be built under a Public-Private Partnership (PPP) model and is expected to process up to 51,000 metric tonnes of e-waste annually. The decision was finalised in a high-level meeting chaired by Industries and Environment Minister Manjinder Singh Sirsa, who also announced that a global tender (RFQ-cum-RFP) would soon be floated to attract leading green technology partners. 'The park will be developed by the Delhi State Industrial and Infrastructure Development Corporation under the Design, Build, Finance, Operate and Transfer model with a 15-year concession period. The project is estimated to cost Rs 150 crore expenditure and Rs 325 crore in operational costs, and is expected to generate over Rs 350 crore in revenue. It aims to position Delhi as a national leader in e-waste management, green jobs and resource recovery' the minister said. 'This is not just a facility — it's a commitment to the future,' said Sirsa. 'The era of irresponsible dumping is over. We are building a city that is future-ready — environmentally, industrially and socially.' Apart from recycling e-waste, the park will include zones for dismantling, refurbishing, component testing, plastic recovery, and a second-hand electronics market. It will also host training centres to upskill informal sector workers engaged in unsafe e-waste handling. India is the world's third-largest e-waste generator, producing over 1.6 million metric tonnes annually. Delhi accounts for around 9.5% of this total. The Eco Park is one of four such facilities planned nationally. Expected to be finished within 18 months The Eco Park is one of four such facilities planned nationally. Construction of the park is expected to be completed within 18 months, with the goal of processing 25% of e-waste within five years. The project is expected to create thousands of green jobs while reducing pollution and conserving resources.


NDTV
8 hours ago
- NDTV
"Careless Dumping Days Behind Us": Delhi To Get India's 1st E-Waste Eco Park
Quick Read Summary is AI generated, newsroom reviewed. Delhi to launch an e-waste Eco Park in Holambi Kalan to address electronic waste sustainably. The facility, covering 11.4 acres, will process 51,000 metric tonnes of e-waste annually. With an investment of Rs 150 crore, the park aims to generate Rs 350 crore in revenue. New Delhi: Delhi is taking a groundbreaking step toward a greener future with the launch of India's first e-waste Eco Park in Holambi Kalan. This innovative project aims to revolutionise how the country deals with electronic waste, turning a significant challenge into an opportunity for sustainable growth. Spanning over 11.4 acres, the e-waste Eco Park will be a cutting-edge facility capable of processing up to 51,000 metric tonnes of e-waste each year, covering all 106 categories outlined in the E-Waste Management Rules, 2022. With a capital investment of Rs 150 crore and an operational budget exceeding Rs 325 crore, this park is projected to generate Rs 350 crore in revenue, fostering a thriving ecosystem for recycling, recovery, and responsible waste management. "This isn't just about managing waste, it's a testament to Delhi's dedication to a circular economy where every resource counts, and every worker matters," Environment Minister Manjinder Singh Sirsa said after leading a crucial meeting to finalise the next steps for development. He added, "The days of careless dumping are behind us. We're focused on making Delhi ready for the future industrially, environmentally, and socially." To attract top-notch green technology providers from around the globe, the Delhi State Industrial and Infrastructure Development Corporation (DSIIDC) will soon issue a global RFQ-cum-RFP tender. The Eco Park will be developed using a DBFOT (Design, Build, Finance, Operate, Transfer) model under a Public-Private Partnership (PPP) framework, with a concession period of 15 years. The construction of the Eco Park is set to wrap up within 18 months. Once up and running, the park will manage nearly 25 per cent of Delhi's e-waste and will serve as a model for similar initiatives across the country. Tackling India's E-Waste Emergency India stands as the third-largest producer of e-waste in the world, churning out over 1.6 million metric tonnes each year. Delhi contributes nearly 9.5 per cent of that staggering total. Unfortunately, only 17.4 per cent of global e-waste is recycled in a scientifically sound manner, which means we're missing out on valuable resources like copper, lithium, and rare earth metals. Delhi's E-Waste Eco Park is the first of four such facilities planned across the country. With solid backing, land set aside, and financial support already secured, Delhi is stepping up to transform environmental challenges into real, sustainable infrastructure for the future. Green Jobs, Clean Delhi It's not just about the environment. The Eco Park is also set to bring order to the informal sector, creating thousands of green jobs and empowering local dismantlers, recyclers, and refurbishers. By encouraging the safe and scientific recovery of essential materials, Delhi is paving the way for a cleaner, greener, and more inclusive industrial landscape.


Hans India
8 hours ago
- Hans India
Regular yoga promotes healthy living
Ongole: Prakasam district collector A Thameem Ansariya, Ongole MLA Damacharla Janardhana Rao, SN Padu MLA BN Vijay Kumar, APTDC Chairman Dr Nukasani Balaji, and others flagged off a yoga rally from the Collectorate to the Mini Stadium here on Monday, as part of the ongoing Yogandhra-2025 campaign. Speaking at the event, collector Ansariya explained that extensive yoga programmes are being conducted district-wide to encourage participation from all communities in the Yogandhra campaign. She noted that International Yoga Day is celebrated annually on June 21st, and this year's event in Visakhapatnam will see the participation of the Prime Minister alongside approximately 5 lakh people. She emphasised that regular yoga practice promotes healthy living with renewed energy and recommended incorporating yoga and meditation into daily routines. MLA Janardhana Rao highlighted the campaign's role in showcasing yoga's excellence through daily awareness programmes throughout the district. He stressed the importance of making the upcoming International Yoga Day celebration on June 21st successful. MLA Vijay Kumar noted that yoga benefits both physical and mental health. Dr Balaji mentioned that yoga programmes are being organised extensively from tourist destinations to village levels under district administration guidance. Joint Collector R Gopala Krishna explained that as part of the Healthy Andhra Pradesh initiative, yoga rallies are being conducted at every village secretariat, mandal, and district headquarters level. Several district-level officials, department heads, public representatives, yoga practitioners, and members of the public joined together in the rally.