NBCC to take up projects worth about Rs 10,000 crore in Goa
Oct 28, 2024
New Delhi [India], October 28 : State-owned firm NBCC is all set to carry out major development and re-development works in Goa worth approximately Rs 10,000 crore.
These projects are to be taken up in phases, the construction company announced on Monday.
In the first phase, as many as six projects in Goa are set to be taken up for execution with an estimated value of more than Rs 1,700 crore.
Under a unique self-sustainable model, these projects will be developed without any budgetary support from the Goa government.
"The collaboration aims to revitalize vacant and underutilized lands, as well as dilapidated buildings, thereby optimizing asset utilization and maximizing returns for the Government of Goa," NBCC said in a statement.
Earlier, NBCC had inked an MoU with the government of Goa for carrying out various development or redevelopment works in Goa. Under the MoU, such works will be undertaken in a phased manner.
The six projects in Goa are -- commercial (retail and office/hotel) space at Junta House, 18th June Road, Panjim, commercial (retail and office/hotel) space at Govt Garage, M.G. Road, Panjim, administrative building at Porvorim, circuit house and hotel at Altinho, Panjim, commercial and residential space for government quarters at St. Inez and commercial (retail and office/hotel) space for Mini Convention Centre at Tiswadi Patto.
The total plot area of these six projects is around 53,000 square metre, with a built-up area of approximately 185,000 square metre.
The expected revenue generation from these projects will be more than Rs 1,700 crore. In addition to the above projects, NBCC shall also be responsible for the feasibility study and findings of the redevelopment of the Vasco bus stand.
NBCC is executing various projects on vacant or underutilized or unused land parcels and colonies in various parts of the country. In New Delhi, NBCC has successfully, re-develop New Moti Bagh and East Kidwai Nagar.
The Company is currently re-developing Nauroji Nagar, Sarojini Nagar and Netaji Nagar as a part of the re-development of 7 GPRA colonies. NBCC is also aggressively expanding its footprints in other parts of the country under its redevelopment/development model on a self-sustainable basis having recently secured works in Srinagar valuing Rs 15,000 crore and Kochi valuing Rs 2,000 crore.
