Ghaziabad Nagar Nigam listed itself at BSE and successfully raised Rs. 150 Crores by issuing Municipal Bond on Private Placement Basis using BSE BOND. This is the first-ever green bond issuance by any Municipal Corporation in the country. The money will be used for the construction of a tertiary sewage treatment plant at Indirapuram in Ghaziabad. The money will be used to fund the project partly which is worth Rs 240 crore. This treatment plant will enable the sewage water to be used for industries after treatment.
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Ghaziabad Nagar Nigam is the second Municipal Corporation to raise funds in the state of Uttar Pradesh. Earlier, Lucknow Municipal Corporation had listed itself at BSE.
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