As per the guidelines, the implementation of the Mission at the City level will be done by a Special Purpose Vehicle (SPV) created for the purpose. The SPV will plan, appraise, approve, release funds, implement, manage, operate, monitor and evaluate the Green City development projects.
The SPV was stipulated to be a limited company incorporated under the Companies Act, 2013 at the city-level, in which the State/UT and the ULB will be the promoters having equal equity shareholding.
Accordingly vide Government Notification no 2203-T&CP/C-2/1P-05/2018, dated 27.08.2018, “New Town Kolkata Green Smart City Corporation Limited” or NKGSCCL was formed to implement the Green City Mission Projects in tandem with the Green City Mission of Government of West Bengal, with the following equity composition:
The Company was incorporated as a Company with the Ministry of Corporate Affairs on 24/10/2018 under the Indian Companies Act 2013.
NKGSCCL has its registered office at Utility Building, 5th Floor, Plot No : AI/154/1, Premises No : 09/1- 0024, Action Area – IA, (Near Tank no 3), New Town Kolkata – 700156