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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,”
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