Special Purpose Vehicle (SPV)
On the terms of the directions of the Hon’ble Supreme Court of India the Government of Meghalaya has already constituted a body viz. Special Purpose Vehicle (SPV) for implementing monitoring the various social welfare projects to be undertaken by the company in respect of the project. In terms of the charted route of its commitment to the cause of social welfare of the area, LUMPL have committed to deposit with the SPV an amount of Rs. 90/- per ton of minerals extracted by it. The company has already deposited a sum of about Rs.99.51 Crores as of 31.12.2014 on this account to the SPV.
SPV Society is the apex implementing and coordinating organization for the integrated development of the areas affected by LUMPL on issues related to:
- Socio-economic
- Environmental
- Skill Based and Cultural Development
- Infrastructure Projects
- Financial Assistance for Education
- Youth Development & Sports