PSU NEWS
NBCC eyes opportunity in 5-7 smart city projects
Mumbai “Most of the cities are talking to us. Funds are the most important component of smart cities and that’s why cities are going for re-development and monetisation of properties. Here we have a big role to play," NBCC Chairman and MD Anoop Kumar Mittal has been quoted as saying.
National Buildings Construction Corporation Ltd (NBCC) has identified 5-7 smart cities with three different business models for project execution, reports a business daily.
“Most of the cities are talking to us. Funds are the most important component of smart cities and that’s why cities are going for re-development and monetisation of
properties. Here we have a big role to play," NBCC Chairman and MD Anoop Kumar Mittal has been quoted as saying.
"We are already present in few cities in states such as Rajasthan and Odisha. The New Delhi Municipal Corporation is also talking to us,” he told the financial newspaper.
There were three models under which the company can work with the smart cities, according to the NBCC head.
“One, we can be a partner in the SPV. Two, we can be project management consultants. Three, we could work on behalf of the municipal corporation and state government to re-develop properties and generate funds for them, which can then use those funds as equity in the SPV,” says Mittal.
“There is a huge business opportunity. Since we have experience in re-development projects, I feel we will be preferred,”
News Must Read
- CPCL Reports 39% YoY Drop in Q4 Net Profit, Declares Rs 55 per Share Dividend
- SJVN Limited inaugurates India's first Multi-purpose Green Hydrogen Pilot Project
- KRDCL, RVNL JV emerges as the Lowest Bidder for Redevelopment of Thiruvananthapuram Central Railway Station
- REC Ltd. has incorporated subsidiary company BPTL
- Hon’ble Vice President of India Confers `Outstanding PSU of the Year’ Award on HAL
- BharatPe Launches India’s first All-in-One Payment Device
- NBCC registers historical Performance in FY2023-24
- RuPay Unveils Link it, Forget it Campaign at IPL 2024 to Promote RuPay Credit Card on UPI
- NTPC Green Energy Limited Inks MoU with Indus Towers Limited
- CIL’s capex up 6.5% to highest Rs.19,840 Crores in FY 2024