With one and a half years remaining to complete the projects taken up under the Jawaharlal Nehru National Urban Renewal Mission, the Greater Visakhapatnam Municipal Corporation has plans to borrow an additional Rs.150 crore.

It is biding its time in view of the money to be released by the State government. The State government has to pay Rs.126 crore, including its share of 20 per cent towards the works completed under the urban mission project so far. “For works worth Rs.40 crore completed by contractors, bills are due.