Dynamite News NBCC & MTNL ink MoU for Rs1,600 crore land development project in Delhi
The project will be executed in phases over a period of three years with a focus on maximizing both residential/commercial benefits. Read further on Dynamite News:
New Delhi: National Buildings Construction Corporation (India) Limited (NBCC) and Mahanagar Telephone Nigam Limited (MTNL) have signed a Memorandum of Understanding (MoU) on Wednesday here in New Delhi to develop a 13.88 acres land parcel of MTNL on Pankha Road, reports Dynamite News correspondent.
Rs 1,600 Cr project
The project aims to transform the land into a state-of-the-art residential/commercial space, leveraging the expertise and resources of both organizations. The project is valued at about Rs1600Cr.
The MoU was signed in the presence of KP Mahadevaswamy, CMD, NBCC; A Robert J Ravi, CMD, MTNL; Suman Kumar, Director (Commercial), NBCC; Kalyan Sagar, Director (HR), BSNL; Ratan Mani Sumit, Company Secretary, MTNL; Reshma Dudani, Sr Executive Director (Engg.), NBCC; and Devender Yadav, GM (Land Monetisation), MTNL.
Execution by NBCC
In this project NBCC, a Navratna enterprise under the Ministry of Housing & Urban Affairs, will act as the executing and implementing agency for the development of the land parcel. It will handle the master planning, architectural design, and detailed project reports.
Project duration: 3 years
The project will be executed in phases over a period of three years with a focus on maximizing both residential/commercial benefits.
NBCC will be responsible for project management, including tendering, construction and post-construction activities.