Burlton Park project gets Rs 130-crore loan from HUDCO
Housing and Urban Development Corporation (HUDCO) Limited, a central government body, has sanctioned Rs 130 crore loan to the municipal corporation for the development of Burlton park into a sports hub.punjab Updated: Jun 16, 2012 18:25 IST
Housing and Urban Development Corporation (HUDCO) Limited, a central government body, has sanctioned a Rs 130-crore loan to Jalandhar municipal corporation for the development of Burlton park into a sports hub.
Municipal commissioner Vinay Bublani said that HUDCO had cleared the pending file regarding the loan. "Previously, HUDCO had denied the loan as it wanted the Punjab government to make a provision for the project in its annual budget. However, the corporation had pleaded that the project cost cannot be included in the state's annual budget. The condition has now been waived."
The MC passed a resolution for the project in 2008. In 2010, the cricket stadium in the park was razed to pave way for construction of a new one. However, the project was abandoned due to lack of funds.
The project will be completed in two phases. In the first phase, Rs 140 crore will be spent on the construction of a cricket stadium and an indoor stadium with swimming pool of international standards etc. In the second phase, beautification works would be taken up.
Bublani said that the corporation might call tenders again as the company that had bagged the project had quoted more than the corporation's budget.
For operation and maintenance of sports facilities and repayment of loan, commercial complexes would be allowed to function on 10-acres within the park.
Mayor Rakesh Rathour expressed happiness over the development.
First Published: Jun 15, 2012 23:39 IST