New Tirupur Area Development Corporation Limited (NTADCL) was incorporated in 1995. It was promoted by the Government of Tamil Nadu (GoTN) and Infrastructure Leasing and Financial Services Ltd (IL&FS) as an SPV to implement the Tirupur Area Development Programme (TADP).
As part of the TADP, NTADCL has been mandated, through a concession by GoTN, to develop, construct, operate and maintain a 185 million litre per day capacity water supply project and sewerage facility for about 60% population in Tirupur Municipality at a total cost of about 1023 crores. The project also involves providing low cost sanitation facilities for slum areas in Tirupur
The project of NTADCL is the first private water supply and sanitation project in the country and one of the largest private investments in urban infrastructure in the country. Moreover, this is the first water supply project to be financed commercially on a limited recourse basis. The project also raised US$25 million in the US capital market in association with USAID
Impact of the Project
- A world class asset has been created, which, upon completion of the concession, would return to GoTN free of cost
- Availability of quality water would enable Tirupur exporters to move up the value chain, expand production and generate significant opportunities for investment and employment for the State
- Industry can henceforth focus on their core competency i.e. manufacture good quality products without worrying about water, an important ingredient
- Households in Tirupur and wayside villages, apart from the industry, would get quality water at affordable prices, without any need for substantial investment by GoTN