The Goa Cabinet has approved a new role for Imagine Panaji Smart City Development Limited (IPSCDL), which was established in 2016 to implement Smart City projects in the state capital.
With most of its planned works nearing completion, the company will now be restructured as a State-Level Urban Development Special Purpose Vehicle (SPV) to support urban development projects across Goa.
The decision aims to utilise the expertise and institutional capacity developed by the Smart City corporation for future urban infrastructure and development initiatives.
The restructuring is expected to transform the Smart City SPV into a multi-functional urban development agency, extending its role beyond Panaji to urban areas across Goa.
The new arrangement could provide the state with a dedicated institutional mechanism to support municipal infrastructure and urban development projects.