India, Mauritius signed MoU to execute USD 20 million social housing project

Posted on:21 Mar 2017 09:02:46
India, Mauritius signed MoU to execute USD 20 million social housing project
21 March 2017 Current Affairs: India and Mauritius on 20 March 2017 signed a Memorandum of Understanding (MoU) to execute a USD 20 million social housing project in Mauritius.

The MoU was signed in the presence of the Union Minister of Urban Development M Venkaiah Naidu and the visiting Mauritius’s Vice-Prime Minister and Minister of Housing and Lands Showkutally Soodhun.

As per the MoU, the NBCC (India) Limited of the Union Government will undertake construction of 700 duplex type houses with 50 square meters net floor area.

Each house consists of two bedrooms, living and dining rooms, kitchen, bathrooms and toilets.

 NBCC (India) Limited : NBCC (India) Limited, formerly known as National Buildings Construction Corporation Ltd., is a blue-chip Government of India Navratna Enterprise under the Ministry of Urban Development.

The company has registered a substantial 32 per cent growth in top line during FY 2015-16 as compared to the previous year.It has posted a profit of Rs 311 crore, white its total income has surged to Rs 5838 crore during FY 2015-16.

Certified with ISO 9001:2008 from the Bureau of Indian Standards (BIS) in respect of Project Management and Consultancy, the company’s’present areas of operations are categorized into three main segments.

The three segments are - Project Management Consultancy (PMC), Real Estate Development and EPC Contracting.

The Company is planning to launch a new business venture of e-Commerce to cater to the sale of built-up properties of NBCC’s real estate.NBCC ventured into overseas operations in the year 1977.

It has executed projects of diverse nature in countries like Libya, Iraq, Yemen, Nepal, Maldives, Mauritius, Turkey and Botswana.

Under various schemes of Corporate Social Responsibility (CSR), the company is participating in execution of bio-digester toilets in village schools at various locations of the country.

At present, the company has operations in Maldives, Turkey, Mauritius and Botswana. In early March 2017, the NBCC was entrusted with the responsibility to execute the construction project of new supreme court building in Port Louis, Mauritius.The USD 33 million project is expected to be completed by March 2019.

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