CSR funds to power GCDA's new Ambedkar Sports City in Kochi
Kochi: For the first time in the state, a major sports project will be implemented completely using
corporate social responsibility
(CSR) funds. Greater Cochin Development Authority (
GCDA
) began procedures to garner funds for its proposed Ambedkar Sport City in the city through CSR initiatives of various corporates.Total project cost is estimated at Rs 90 crore, and GCDA is planning to collect the entire amount from ten corporates.
GCDA has approached the firms and two of them have agreed to contribute, sources said.The project will be implemented after demolishing the existing Ambedkar Stadium located in the city centre. The stadium is in a dilapidated condition. Around two years ago, GCDA's executive committee had granted approval for demolishing the stadium to set up a sports city. The design of the new stadium has been almost finalised, and construction work is scheduled to begin soon.GCDA has completed demolishing the galleries of the existing stadium in the city, and debris removal will be completed soon. The demolition work cost Rs 2 crore, allotted by state govt's budget 2024."We are planning to gather
CSR funds
from 10 major companies, which can contribute Rs 9 crore each.
We have submitted proposals to the selected companies. Two of them informally confirmed their support and we are awaiting replies from others," said a senior GCDA official. This is the first time in the state that a major sports project is being implemented completely using CSR funds, he added.Before beginning the construction of the sports city project, GCDA has to shift 72 shops that have been functioning in the old stadium building.
The project to rehabilitate the vendors will be completed soon, said a GCDA official.GCDA is planning to categorise the entire project into modules, with each module being completed by CSR funds from each firm. A new football stadium will be constructed along with other sports facilities. Besides sports infrastructure, adequate lighting and toilet facilities will be ensured as part of the new project, said a GCDA official. There will be an exclusive parking area for the new stadium.Ambedkar Stadium was built on six-and-a-half acres near KSRTC bus station. Presently, the entire area of the stadium, except the football ground, is overgrown with weeds and bushes. There are frequent complaints of waste dumping near the stadium. Also, there were several complaints of anti-social activities in the area. Two years ago, a hotel worker was stabbed to death at the stadium after a drunken brawl.Project PlanConstruction Cost: Rs 90 croreHighlights:- Football stadium with 15,000-20,000 seating capacity- Cricket pitch- Volleyball court- Basketball court- Swimming pool- Running track
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
19 minutes ago
- Business Standard
Samsung Galaxy S25 Edge available with storage upgrade, no-cost EMI offers
Although the 512GB variant of the Samsung Galaxy S25 Edge is officially priced at Rs 121,999, it is being offered with an upfront discount of Rs 12,000 under the storage upgrade promotion New Delhi The Samsung Galaxy S25 Edge is now available for purchase in India. The ultra-thin smartphone comes with a storage upgrade offer, allowing consumers a free upgrade to the 512GB model at the price of the 256GB variant. This promotional offer was initially exclusive to pre-orders. Additionally, Samsung is providing an 18-month no-interest equated monthly instalment (EMI) plan. Samsung Galaxy S25 Edge: Price and offers 12GB RAM + 256GB Storage: Rs 109,999 12GB RAM + 512GB Storage: Rs 121,999 Although the 512GB variant is officially priced at Rs 121,999, it is being offered with an upfront discount of Rs 12,000 under the complimentary storage upgrade promotion. As a result, consumers may purchase the higher storage model at the cost of the base variant. Samsung Galaxy S25 Edge: Details The Galaxy S25 Edge features a sleek titanium frame and an ultra-slim profile measuring just 5.8mm, making it one of Samsung's thinnest smartphones to date. Weighing 163g, it is marginally heavier than the standard Galaxy S25, yet remains lightweight considering its expansive 6.7-inch QHD+ Dynamic AMOLED 2X display. The display is protected by Corning Gorilla Glass Ceramic 2 for enhanced durability. In terms of imaging capabilities, the smartphone is equipped with a 200MP primary sensor, which is reported to deliver up to 40% improved brightness in low-light conditions compared to the Galaxy S25. This is accompanied by a 12MP ultra-wide lens supporting autofocus and macro photography. Powered by Qualcomm's Snapdragon 8 Elite chipset, the device is compatible with the complete range of Galaxy AI features. These include Now Brief, accessible via the Now Bar, the Google Gemini AI assistant with cross-application functionality, and tools such as Audio Eraser, Drawing Assist, and Nightography. The Galaxy S25 Edge also introduces ProScaler, a feature driven by Samsung's mobile Digital Natural Image engine (mDNIe), which enhances the quality of visual content through upscaling. Samsung Galaxy S25 Edge: Specifications Display: 6.7-inch Dynamic AMOLED 2X, QHD+ resolution, 120Hz refresh rate (1–120Hz), 2600 nits peak brightness Processor: Qualcomm Snapdragon 8 Elite RAM: 12GB Storage: 256GB and 512GB Rear Camera: 200MP primary + 12MP ultra-wide Front Camera: 12MP Battery: 3900mAh Protection: IP68 rating, Corning Gorilla Glass Ceramic 2 Operating System: Android 15-based One UI 7
Economic Times
30 minutes ago
- Economic Times
Yes Bank shares jump 6% on fundraising buzz; board meet set for June 3
Live Events Details of stake transactions SMBC's expansion plans (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Shares of Yes Bank surged 6% to Rs 22.86 on the BSE in Monday's trade after the bank announced that its Board of Directors will meet on Tuesday, June 3, 2025, to consider raising capital through equity shares, debt securities, or other financial to a company filing dated May 28, the proposed fundraising could be carried out via private placement, preferential allotment, or other approved routes, subject to the necessary regulatory and shareholder development follows State Bank of India 's recent disclosure of its plans to sell a substantial portion of its 23.97% stake in Yes Bank to Japan's Sumitomo Mitsui Banking Corporation (SMBC). SBI is expected to offload up to 20% of its holding, while SMBC is likely to inject additional capital equivalent to a 6–7% the deal materialises, SMBC may be required to make an open offer, potentially increasing its stake in Yes Bank to as much as 51%. This would mark a significant shift in the bank's ownership and control part of the agreement, SMBC is also committed to participating in any equity issuance by the bank to maintain its 20% Bank has formally notified the stock exchanges of the upcoming board meeting under SEBI's Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015. The bank has also closed its trading window for designated persons and their relatives from May 29 to June 5, 2025, in accordance with the SEBI (Prohibition of Insider Trading) Regulations and its internal May 9, Yes Bank had announced that SBI would sell 13.2% of its stake to SMBC, while a group of other Indian banks — HDFC Bank Federal Bank , and IDBI Bank — which collectively held 9.7%, would divest 6.8%.Post-transaction, SBI would retain a 10.8% stake in Yes Bank. SBI had earlier invested Rs 10,000 crore in 2020 to rescue the lender and is now preparing for a gradual sources suggest SMBC may seek to merge Yes Bank with its NBFC arm, SMFG India Credit (formerly Fullerton India Credit), subject to RBI approval. If approved, SMBC would hold majority stakes in both a private bank and an NBFC — a structure that may raise regulatory questions due to overlapping business the transaction, SMBC will have the right to nominate two directors to Yes Bank's board, while SBI will retain one. SMBC, which manages $1.6 trillion in assets globally, will also have preemptive rights to maintain its pro-rata stake in any future fundraising of March 2025, Yes Bank reported a Common Equity Tier 1 (CET1) ratio of 13.5% and an overall capital adequacy ratio of 15.6%.
India.com
30 minutes ago
- India.com
Bad news for Nita Ambani's MI after loss to PBKS, captain Hardik Pandya has been...
In these collection of pictures, we find out about the bad news which has come for Nita Ambani's Mumbai Indians after their loss in IPL 2025 Qualifier 2 to Punjab Kings in Ahmedabad on Sunday. Nita Ambani's Mumbai Indians have failed to reach IPL 2025 final after their five-wicket loss to Punjab Kings in IPL 2025 Qualifier 2 match in Ahmedabad on Sunday. Nita Ambani's Mumbai Indians were hoping to become 1st team to win six IPL titles. Both MI and CSK have won five titles each. MI captain Hardik Pandya has been fined Rs 30 lakh by BCCI for maintaining slow over-rate in Qualifier 2 against PBKS in Ahmedabad on Sunday. BCCI have fined MI and Hardik Pandya for third time in IPL 2025 season for maintaining a slow over-rate. All members of Nita Ambani's MI team have been fined Rs 12 lakh each or 50 per cent of their match fees - for their third over-rate offence of the season. Hardik Pandya was banned from first match of IPL 2025 season due to over-rate offences by MI last year. However, BCCI decided that no captain will be banned for over-rate offences in IPL 2025 season. Mumbai Indians had beaten Gujarat Titans in IPL 2025 Eliminator to book their place in Qualifier 2 against Punjab Kings.
