Vandana Ramnani
Moneycontrol News
NBCC (India), the government's construction arm, is looking to expand its overseas presence in a big way. The company is looking to increase its overseas order book to Rs 10,000 crore from the present Rs 700 crore in the next five years, Anoop Kumar Mittal, CMD, NBCC said.
“We have floated a subsidiary NBCC International to undertake projects abroad. We are currently in the process of constructing projects in Turkey, Maldives and Mauritius,” he said.
In Maldives, the government’s construction arm, is developing the National Prison Academy. The project is worth Rs 200 crore.
In Mauritius, the company is working on the Supreme Court building and construction of around 700 units under the social housing project. These units are being developed with the grant received by Mauritius from the government of India. This project is worth Rs 350 crore.
The company has completed 3,600 dwelling units in Turkey. This was a project management consultancy taken up for the Meer Project in Turkey. The project was worth Rs 430 crore.
NBCC has floated a company called NBCC Gulf LLC for taking up projects in Oman. This is part of the MoU it signed with the Al Naba Services LLC in Oman. The company is dedicated to scouting for works in Oman. NBCC holds 70 percent equity and Al Naba Services holds 30 percent equity in the venture.
NBCC International is focused on taking up projects in which the government of India provides grants and aid to other countries and also undertakes construction of Indian High Commissions and embassies for the Ministry of External Affairs.
On September 8, Minister of Housing and Urban Affairs Hardeep Singh Puri had asked NBCC to explore overseas opportunities and consider getting listed on foreign bourses. He had also advised the NBCC to participate in commercial bidding for taking up projects of Indian missions in various countries.
The minister had asked the public sector undertaking to work towards becoming a USD 3-billion company. The Minister had asked NBCC “to think even bigger and increase its international profile in the context of the construction sector having been opened to FDI and consider getting listed on foreign bourses, being a USD 3-billion company”.
Puri also advised NBCC to participate in commercial bidding for taking up projects of Indian missions in various countries by talking to the concerned in the External Affairs Ministry and mission heads.
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