The Hindu : Front Page : Tirupur Corpn. plans infrastructure development

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Wednesday, Jan 14, 2009
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Tirupur Corpn. plans infrastructure development

R. Vimal Kumar

Plans to float tenders inviting bidders to execute the project

Tirupur: The Tirupur Corporation plans to float tenders inviting bidders to execute the infrastructure development project planned with German funding at recently approved layouts situated in the city at an outlay of Rs. 40 crore, before January 31.

The work is expected to commence from February-end.

Mayor K. Selvaraj told The Hindu that under the scheme, storm water drains would be constructed at 175 layouts, which had been ‘approved’ recently, to a total length of 130.07 km.

“Our aim is to prevent water stagnation widespread in these layouts, and thus check breeding of mosquitoes. Establishment of storm water drains will also indirectly strengthen the road network in the locality,” he said.

The scheme had been envisaged to empty water from a total of 316 streets directly into the water bodies like Noyyal river, Jamnai Odai, Sankalipallam Odai and Nallaru, all located in the vicinity, in a scientific manner.

Of the total project cost of Rs. 40 crore, 65 per cent would be obtained as loan from Kreditanstalt fur Wiederaufbau (KfW), a development bank based at Frankfurt in Germany, 25 per cent as subsidy from the same financial institution and remaining from the Corporation exchequer.

Moratorium

As per an agreement with KfW, there is a moratorium of three years for the repayment of principal amount.

The repayment period for the loan had been fixed at nine years with an interest of 9.5 per cent.

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