Surat: The Surat Municipal Corporation (SMC) has received international standard certification from the London-based Climate Bond Initiative, in line with SEBI guidelines for green debt securities, marking a major step towards issuing a green municipal bond (GMB).

The Rs 200 crore bond is in its final stages of preparation, with Rs 100 crore as the base issue and the remaining Rs 100 crore as a green shoe option. It will be a public issue of listed, taxable, redeemable, secured, and non-convertible municipal bond debentures. The funds raised will be deployed across six key projects.

These projects include a 10 MW ground-mounted solar power plant, a 6.3 MW wind power plant, a centralised dry and wet waste processing facility, and area development works at Kosad under the BRTS Project. Additionally, the funds will support the design, construction, and commissioning of a 250 MLD water treatment plant with zero liquid discharge at Variav, and the upgradation of Rander’s water treatment plant from 50 MLD to 160 MLD using advanced membrane filtration technology.

The initiative also covers the construction of a 400 MLD raw water intake well, chlorination and HT rooms, and a 1,829 mm diameter raw water transmission line from the intake point to the Variav water treatment plant.

Municipal Commissioner Shalini Agarwal said the certification and bond issue reflect SMC’s commitment to sustainable urban development, renewable energy, efficient waste management, and clean water infrastructure. The public issue will be open to quality institutional investors, corporates, high-net-worth individuals, and retail investors, allowing citizens to participate. DeshGujarat