AMC raises Rs 2 billion via municipal bonds

The Ahmedabad Municipal Corporation in Gujarat has raised funds worth Rs 2 billion via municipal bonds for water and solid waste management projects under the Atal Mission for Rejuvenation and Urban Transformation (AMRUT). The bonds offer an interest rate of 8.7 per cent and have a maturity period of five years. The funds will be used to finance projects for 24×7 water supply, setting up sewage treatment plants for Sabarmati pollution control, and other projects in Ahmedabad under AMRUT.