New SPV to Oversee India’s Longest Riverfront Project

The development of Phase-3 of the Sabarmati Riverfront project is set to begin soon, following the receipt of environmental clearance. This phase, which spans a 4.5 km stretch from Indira Bridge to the Narmada Canal, is slated to be developed at an estimated cost of Rs 1,000 crore. The project aims to transform the Sabarmati River into a major urban attraction while offering multiple civic and environmental benefits to the region.

Once completed, the Sabarmati Riverfront project will become the longest urban waterfront in India, surpassing previous urban development projects along other rivers in the country. The riverfront is being developed in multiple phases, with a total of seven phases planned. Each phase is designed to bring significant improvements to the river’s surroundings, including creating recreational spaces, enhancing flood control measures, improving the quality of the water, and facilitating urban development along the river’s edge.

Phase-3 is a key part of this ambitious vision, and its completion will link important areas along the river, offering residents and visitors new avenues for recreation and community activities. The area will feature parks, promenades, and cultural spaces, contributing to the aesthetic and social revitalization of Ahmedabad. It will also provide much-needed public spaces for urban dwellers, further integrating nature with city life.

Given the large scope and the importance of the riverfront project, the state government has decided to establish a Special Purpose Vehicle (SPV) to oversee its execution. This move comes as the project now extends beyond Ahmedabad’s boundaries, calling for a more specialized and focused body to manage and coordinate the efforts of the various stakeholders involved. The SPV will be responsible for ensuring the efficient planning, implementation, and ongoing management of the project across its multiple phases.

The creation of the SPV is also expected to help address challenges related to land acquisition, urban planning, and environmental impact assessments. By establishing a dedicated entity to oversee the project, the government aims to ensure that the riverfront development stays on track and meets its long-term goals.

Once completed, the Sabarmati Riverfront is expected to become a major landmark and a symbol of modern urban development in India. It will not only boost tourism and the local economy but also provide a model for sustainable waterfront developments in other cities across the country. With the launch of Phase-3 and the establishment of the SPV, this transformative project is one step closer to becoming a reality.

AM.