Chennai: The Tamil Nadu Urban Infrastructure Financial Services Ltd. (TNUIFSL) is to fund Rs94.48 crore for 34,000 street lights this financial year. The sum will be jointly issued by the Tamil Nadu Urban Development Fund, World Bank and Chennai Corporation through TNUIFSL. The initiative follows the government’s announcement in the Assembly in 2013 that 1,10,000 new lampposts will be created in the newly added areas of Chennai corporation at an estimated cost of about Rs 300 crore.
Corporation officials said that the civic body was already maintaining 2,28,826 streetlights in the city. The newly added areas have 94,314 streetlights, including 34,098 fluorescent bulbs. A study revealed that an additional 1,10,055 new streetlights, at an estimated cost of Rs 321.79 crore, are required for proper lighting in the new areas. Steps are being taken to light the new areas on a par with the main areas and arterial roads in the city with advanced technologies, officials said.
Since the project did not earn any income for the local body, it was planned that a subsidy of Rs. 200 crore will be received from TNUIFSL, they added. However, the operation and maintenance of the streetlights will be done by the local body. The proposed streetlight infrastructure improvement project will be completed within a year from the date of commencement, as per the terms agreed with the financing agency.
A total of 7,127 new lampposts with LED lights are to be erected at an estimated cost of Rs30.03 crore in the new areas this year. Of the total cost, Rs18.18 crore will be given as loan by TNUIFSL, Rs 9.09 crore as subsidy and the rest Rs3.03 crore will be paid by the Chennai Corporation. The corporation carried out a similar project in 2013-2014, when it completed 13,609 new lampposts with LED lights at a cost of Rs 51.37 crore, while 34,425 new lampposts were erected in 2014-2015 at a cost of Rs 94.48 crore.
