Green Bond Issue Targets Water Security and Urban Expansion
The Nashik Municipal Corporation has tapped the bond market with a ₹200 crore green bond issue aimed at strengthening the city’s water infrastructure ahead of the upcoming Nashik Trimbakeshwar Simhastha Kumbh Mela and supporting long term urban growth.The Nashik Trimbakeshwar Simhastha Kumbh Mela is scheduled from October 31, 2026 to July 24, 2027. The major Hindu pilgrimage is expected to attract millions of devotees, placing significant pressure on Nashik’s water supply and civic systems.
Nashik Mayor Himgauri Aher Adke and Municipal Commissioner Manisha Khatri confirmed that the funds raised will primarily be used to upgrade water treatment facilities and lay new pipelines across key parts of the city.
Mukne Dam, Treatment Plants and Pipeline Expansion in Focus
The proceeds from the green bond will be deployed to augment the Mukne Dam project, construct water treatment plants at multiple locations including Nilgiri Bagh, and lay pipelines from Vilholi to Gandhinagar.The objective is to improve water supply efficiency and address large scale leakages in the existing system.
Khatri said the civic body is raising up to ₹200 crore specifically for the water treatment plant at Mukne. The bond carries a face value of ₹1,000 per unit with a minimum investment of ₹10,000, making it accessible to retail investors. The issue has been structured into eight different investment options to offer flexibility.
Tackling Water Leakages Through Green Financing
Instead of relying entirely on government grants or traditional bank loans, the municipal corporation opted for the green bond route. The Mayor said municipal bodies must adapt to evolving financial models, especially with the central government encouraging green financing initiatives.A key driver behind the fundraising is the city’s high water loss. Nearly half of Nashik’s water supply is currently lost due to leakages. Addressing this inefficiency has become a priority.
Reducing Leakages to Global Benchmarks
The administration aims to reduce water leakages from the current 47 to 49 percent to global benchmarks of 15 to 20 percent. Achieving this could substantially improve water availability without increasing supply sources.Khatri said the city does not want to become water stressed and is taking proactive steps to secure future supply. The project is expected to ensure water availability for the next 20 to 30 years, meeting rising urban demand.
The upgraded infrastructure is also intended to ensure clean and reliable piped water supply during the Kumbh, when Nashik will witness a massive influx of pilgrims.
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