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.
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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.
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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.