CHENNAI: The Greater Chennai Corporation (GCC) has raised Rs.205.59 crore through a green municipal bond, which will be listed on the National Stock Exchange on January 12, 2026.

This is the Corporation’s second municipal bond issue in the current financial year and its first green bond.

The funds will be used for the bio-mining and remediation of the Kodungaiyur dump site, a long-pending solid waste management project in north Chennai. The work involves the scientific removal of legacy waste spread across about 252 acres of the 342.91 acre dumping ground.

The project is being taken up under Swachh Bharat Mission 2.0, with an estimated cost of around Rs.648 crore. As per the approved funding structure, the Union government will bear 25% of the project cost, the Tamil Nadu government 16%, and the Greater Chennai Corporation 59%.

The GCC’s share works out to about Rs.385.64 crore. Of this, Rs.205.59 is now being raised through the green municipal bond. The remaining contribution will be met through its own funds and external financing. The bond has a tenure of 10 years and carries an interest rate of 7.95% per annum.

As a green bond issuer, the GCC is also eligible for an incentive of up to Rs.20 crore from the Union government under the Atal Mission for Rejuvenation and Urban Transformation (AMRUT) 2.0, which will help reduce the overall cost of raising funds for the project.