State-owned firm NBCC (India) Ltd. has bagged a nearly Rs 1,400 crore worth contract to develop 'East Delhi Hub' at Karkardooma in the national capital.
A memorandum of understanding between NBCC and the Delhi Development Authority in this regard was signed in 2015. NBCC informed that the DDA has revised the conditions of the MoU.
"As per the revised MoU, the DDA has entrusted the 'Integrated Development work of East Delhi Hub, Karkardooma, New Delhi based on Transit-Oriented Development norms wherein NBCC will work as project planning, designing and executing agency," NBCC said in a regulatory filing.
The scope of work includes master planning of the entire project and construction of 1,600 residential units, external amenities, infrastructure services, and other developmental works, it said. "The total estimated cost of the development of Phase-I of this project is Rs 1,393 crore (approx)," the filing said.
In a separate filing, NBCC said it has signed an MoU with Odisha Thermal Power Corporation Ltd., Bhubaneswar for civil construction and various developmental works of the thermal power plant. "The total estimated cost of the project is Rs 200 crore (approx)," the company said. NBCC is present in three main segments namely project management consultancy, real estate development, and EPC Contracting.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
