PSU IN MEDIA
This public sector co believes in community living
NEW DELHI . When it comes to giving back to the community, one could take a lesson or two from the National Buildings Construction Corporation (NBCC). The public sector undertaking has come up with a re-development project that not only doubles the existing number of residential units on a 86-acre plot in East Kidwai Nagar in Delhi, but also creates a commercial area of around one million square feet to be made available for lease sale only to PSUs, government departments and ministries. No private parties invited!
Work on building high rises and commercial complexes on the plot, the first such large-scale re-development of a residential colony in Delhi in recent years, has started in full swing and is expected to be completed in four years at a cost of R4,000 crore.
“The reason why we did not offer private players for the lease sale is because the Cabinet said it would only be reserved for ministries and PSUs. Moreover, as it’s lease sale, response from the private sector would not have been very good,” a senior NBCC official told FE.
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