HUDCO–NBCC Ink MoUs to Fast-Track Urban Redevelopment and Asset Monetization

Sanjay Kulshrestha, Chairman & Managing Director, HUDCO, and  K.P. Mahadevaswamy, Chairman & Managing Director, NBCC (India) Limited, signed two Memoranda of Understanding (MoUs) for redevelopment of leasehold plot at August Kranti Bhawan, Bhikaji Cama Place, New Delhi and providing funds by HUDCO for ongoing and upcoming projects of NBCC’s self-sustainable model on mutually agreed terms and conditions.

 

The MoUs were executed by Smt. Radha Roy, Executive Director, HUDCO; Bhushan Kumar, Executive Director (Business Development), HUDCO; and Pradeep Sharma, Executive Director (Business Development), NBCC. Functional Directors and senior officials from both organizations were also present on the occasion.

 

Over the next two years the two Navratna PSUs would cooperate in the areas of techno-economic feasibility study, construction and project management, monetization of built-up space etc. This partnership would contribute to urban infrastructure development in a big way by bringing together HUDCO’s financial strength with NBCC’s execution expertise.