New Delhi: In a move aimed at strengthening collaboration between public sector undertakings, Housing and Urban Development Corporation Limited (HUDCO) has signed a Memorandum of Understanding (MoU) with NBCC (India) Limited.
Scope of the MoU
The non-binding MoU focuses on the joint execution of infrastructure projects in four major cities. The identified works include:
- Commercial plot development at Kaushambi, Ghaziabad (Uttar Pradesh)
- Institutional plot development at Panchkula (Haryana)
- Construction of additional office blocks at HUDCO’s Regional Office, Ahmedabad (Gujarat)
- Reconstruction of residential flats at the Asian Games Village Complex, New Delhi
All projects will be undertaken on a turnkey basis, with the deposit serving as the basis for the work.
Signing Ceremony
The MoU was signed by Sanjay Kulshrestha, Chairman and Managing Director (CMD) of HUDCO, and K. P. Mahadevaswamy, CMD of NBCC (India) Ltd. Senior officials from both organizations attended the signing ceremony, underscoring the importance of the partnership.
Leveraging Strengths
This collaboration seeks to combine HUDCO’s expertise in design and urban planning with NBCC’s established track record in project execution. By pooling resources and experience, the two central public sector undertakings (CPSUs) aim to deliver efficient and sustainable infrastructure.
The partnership aligns with the government’s vision of better land utilization and urban redevelopment. It reflects a broader effort to encourage CPSUs to work together in creating modern, functional spaces that support urban growth.
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