NASHIK: The civic body plans to secure Rs 1,000 crore in loans from the Asian Development Bank (ADB) for various infrastructure projects ahead of the upcoming Simhastha Kumbh Mela, set for 2026 to 2028.
The Nashik Municipal Corporation (NMC) has submitted a proposal to the state urban development department for approval. A senior civic official informed TOI, “Upon receiving approval, we will begin the process to raise Rs 1,000 crore through a loan from ADB.”
An official mentioned that the state government will back the loan repayment to ADB. This initiative is part of NMC’s strategy to fund its share of Kumbh Mela expenses. In the previous Kumbh Mela in 2015, the state government approved a budget of Rs 1,050 crore for NMC, which was required to secure 25% of the funds. NMC managed to raise Rs 250 crore through loans from public sector banks.
For the upcoming Kumbh Mela, NMC has devised a plan worth Rs 15,000 crore and has submitted it to the state government for approval. To date, the Kumbh Mela Authority has sanctioned Rs 3,270 crore for NMC for essential projects, anticipated to take about two years to complete. The approval for these works will be phased by the authority.
NMC has begun preparations to secure funds for its share, including the ADB loan. The funds are earmarked for developing a sewerage network in the city, aiming for 100% sewage collection and treatment at sewage treatment plants (STPs), according to NMC officials.
Additionally, there are several road areas prone to waterlogging during monsoons. A stormwater drainage system will be constructed to mitigate rainwater accumulation in these zones. NMC also intends to allocate funds for various flood control projects, officials stated.
MLA Devyani Pharande from the Nashik Central assembly constituency is aiding the civic body in securing loans from ADB. Furthermore, NMC has decided to raise an additional Rs 400 crore for the Kumbh Mela through municipal and green bonds.
The upcoming Simhastha Kumbh Mela is planned from 2026 to 2028, with the flag hoisting ceremony scheduled for October 31, 2026, and the main Amrit Snans (holy baths) to occur between August and September 2027.
