NBCC (India) Limited has signed a Memorandum of Understanding (MOU) with the Department of Urban Development & Municipal Affairs (UD&MA), Government of West Bengal. This agreement aims to undertake various urban development and infrastructure projects across the state. The MOUs cover areas such as the redevelopment of college street and riverfront development, alongside feasibility studies for government housing projects. NBCC will execute these projects on a ‘Deposit Work Basis’, receiving actual project costs plus a 5% agency charge.
NBCC Signs Key MOUs for West Bengal Urban Development
NBCC (India) Limited has announced the signing of multiple Memorandums of Understanding (MOUs) with the Department of Urban Development & Municipal Affairs (UD&MA) of the Government of West Bengal. These agreements are poised to facilitate the execution of various urban development and infrastructure projects within the state.
The signing ceremony, attended by Smt. Agnimitra Paul, Hon’ble Minister of UD&MA, and Shri K. P. Mahadevaswamy, CMD- NBCC, along with other dignitaries and officials, marks a significant step towards enhancing urban infrastructure in West Bengal. The MOUs cover a range of projects, demonstrating NBCC’s commitment to contributing to the state’s development.
Key Projects Under MOUs
The recently signed MOUs outline specific projects to be undertaken. These include:
- Kolkata Metropolitan Development Authority: Redevelopment of the College Street area and the Chinatown at Tangra.
- Chandernagore Municipal Corporation: River front development at Chandannagar.
- Department of Urban Development & Municipal Affairs: Feasibility study for the redevelopment of Government housing in the BMC area.
- State Urban Development Agency: Development of public toilets in various urban areas.
- Howrah Corporation: Development of River Ghat at Howrah.
- Nabadwip Municipality: Development of River Ghat at Nabadwip.
Project Execution and Financial Terms
NBCC will execute these projects on a ‘Deposit Work Basis’. Under this model, NBCC will be compensated for the actual cost of the projects plus an agency charge of 5% on the actual cost, excluding Goods and Services Tax (GST).
The company stated that project costs and further details will be provided in due course. These MOUs are considered to be in the normal course of NBCC’s business operations. Further information is available on the company’s website.
Source: BSE
