Public Works Department aims for 25% annual growth in projects over 5 years

[] The Central Public Works Department, in its vision document for the next five years, has announced that it plans to increase its workload by 25% per annum and focus on executing projects through SPVs and by raising funding through alternate sources

The Central Public Works Department (CPWD) has prepared a five-year vision document, which seeks to take up a number of initiatives, including creation of Special Purpose Vehicles (SPVs) to execute redevelopment works through alternate funding. An official said the CPWD also has plans to establish a dedicated research, development and innovation centre. The move comes at a time when the Lok Sabha elections are scheduled to be held in seven phases in April and May 2019.

You are reading: Public Works Department aims for 25% annual growth in projects over 5 years

Read also : HC stays allotment of 1,000 flats in Supertech’s Greater Noida project

[] Purandar airport: Maharashtra cabinet’s nod to SPV for Pune’s new international airport

Asserting that the CPWD’s vision document for the next five years sets goals of the agency, the official said, “This vision document also seeks to attain a 25% annual growth in the workload of the department, by taking works of the Ministry of External Affairs, roads and highways and state governments.” According to the vision document, the agency has also proposed creation of SPVs to take up redevelopment works through alternate funding.

Read also : Stamp duty and registration charges in Pune

The CPWD is the government’s largest construction agency, involved in maintenance of central government buildings and erection of fences on the country’s borders, among others. It also carries out projects in foreign countries, under friendship programmes with India.

The CPWD has also advocated best construction practices and new technologies in construction, besides expansion of the technical advisory role of the department. It stated that it will construct all buildings as green and barrier-free.

Copyright belongs to:

Category: Lifestyle

Debora Berti

Università degli Studi di Firenze, IT

Leave a Reply

Your email address will not be published.

Back to top button