NBCC, MTNL sign pact for Rs 16 Bn worth project
ECONOMY & POLICY

NBCC, MTNL sign pact for Rs 16 Bn worth project

State-owned NBCC (India) Ltd reportedly signed an initial agreement to develop a Rs 16 billion housing and commercial project on a 14-acre land parcel owned by MTNL on Pankha Road in New Delhi. According to a statement released on Thursday, NBCC announced that it had entered into a Memorandum of Understanding (MoU) with Mahanagar Telephone Nigam Ltd (MTNL) to collaborate on developing this significant land parcel, which measures approximately 13.88 acres.

The project is expected to transform the land into a modern residential and commercial space, leveraging the expertise and resources of both organisations. The MoU, signed in the presence of K P Mahadevaswamy, CMD of NBCC, and A Robert J. Ravi, CMD of MTNL, reflects the commitment of both parties to the development project.

NBCC will serve as the executing and implementing agency, overseeing master planning, architectural design, and the creation of detailed project reports while ensuring adherence to local town planning regulations. The project is planned to be carried out in phases over three years from the start date, with an emphasis on optimising both residential and commercial benefits.

MTNL is expected to provide the land free from encumbrances and assist with necessary regulatory approvals. Meanwhile, NBCC will manage the project, including tendering, construction, and post-construction activities. NBCC, primarily involved in project management consultancy and real estate, is set to handle the development of this project.

State-owned NBCC (India) Ltd reportedly signed an initial agreement to develop a Rs 16 billion housing and commercial project on a 14-acre land parcel owned by MTNL on Pankha Road in New Delhi. According to a statement released on Thursday, NBCC announced that it had entered into a Memorandum of Understanding (MoU) with Mahanagar Telephone Nigam Ltd (MTNL) to collaborate on developing this significant land parcel, which measures approximately 13.88 acres. The project is expected to transform the land into a modern residential and commercial space, leveraging the expertise and resources of both organisations. The MoU, signed in the presence of K P Mahadevaswamy, CMD of NBCC, and A Robert J. Ravi, CMD of MTNL, reflects the commitment of both parties to the development project. NBCC will serve as the executing and implementing agency, overseeing master planning, architectural design, and the creation of detailed project reports while ensuring adherence to local town planning regulations. The project is planned to be carried out in phases over three years from the start date, with an emphasis on optimising both residential and commercial benefits. MTNL is expected to provide the land free from encumbrances and assist with necessary regulatory approvals. Meanwhile, NBCC will manage the project, including tendering, construction, and post-construction activities. NBCC, primarily involved in project management consultancy and real estate, is set to handle the development of this project.

Next Story
Infrastructure Energy

REC Transfers HVDC Project to Power Grid

REC Limited has successfully handed over the Special Purpose Vehicle (SPV) for a High-Voltage Direct Current (HVDC) transmission project to Power Grid Corporation of India Limited (PGCIL). This strategic move aligns with the nation's objectives to strengthen its power transmission network. Key Highlights: Project Overview: The HVDC project, under the inter-state transmission system (ISTS) initiative, is a critical component of India's push toward robust and efficient electricity transmission. It aims to handle bulk power transfer across long distances while ensuring minimal losses. Role of RE..

Next Story
Infrastructure Transport

NF Railway Collaborates with IIT Guwahati

The Northeast Frontier (NF) Railway has signed strategic Memorandums of Understanding (MoUs) with IIT Guwahati to foster technological advancements and improve railway operations in the region. This partnership focuses on innovative solutions to enhance safety, efficiency, and sustainability in rail infrastructure. Key Highlights: Purpose of MoUs: The collaboration aims to leverage IIT Guwahati's expertise in technology and research for implementing cutting-edge solutions across railway operations. Key areas of focus include: Automation and digitization in maintenance. Sustainability initiati..

Next Story
Infrastructure Transport

Danapur Division Modernization Plans Revealed

The Railway Board has unveiled ambitious plans for the expansion and modernization of the Danapur Division, a critical hub under the East Central Railway. The initiative focuses on infrastructure development, enhanced passenger amenities, and operational efficiency. Key Highlights: Scope of Modernization: The Railway Board's blueprint emphasizes: Upgrading existing infrastructure to accommodate more passenger and freight traffic. Improving station facilities, such as platforms, waiting areas, and connectivity. Introducing advanced signal systems for safer and smoother operations. Freig..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000