NBCC & MAHAPREIT: Rs 25,000 Cr Maharashtra Projects

New Delhi, Mar 26 (PTI) State-owned NBCC has signed an MoU with Mahatma Phule Renewable Energy and Infrastructure Technology Ltd to jointly undertake housing and urban development projects worth Rs 25,000 crore in Maharashtra.

In a statement on Wednesday, NBCC said it has signed a strategic Memorandum of Understanding (MoU) with Mahatma Phule Renewable Energy and Infrastructure Technology Ltd (MAHAPREIT).

This collaboration aims to jointly undertake a wide range of consultancy, fee-based, EPC and redevelopment projects from concept to commissioning, it added.

NBCC said it will be entering into redevelopment for the first time in Maharashtra after having great success in transforming the landscape of Delhi through this unique redevelopment model.

Under this partnership, NBCC and MAHAPREIT will collaborate on key infrastructure projects in Maharashtra, including cluster development projects in Thane Municipal Corporation, data centres, renewable energy initiatives, slum rehabilitation projects in the Mumbai Metropolitan Region (MMR) and various residential projects under the Pradhan Mantri Awas Yojana (PMAY).

"These projects, with an estimated value of Rs 25,000 crore, will be executed in a phased manner over the next three to five years," NBCC said.

The MoU was signed in the presence of K P Mahadevaswamy, CMD, NBCC, and Bipin Shrimali, IAS (R), MD, MAHAPREIT.

The agreement was formalised by Pradeep Sharma, Executive Director of NBCC, and Murthy PRK, Project Director, MAHAPREIT.

NBCC is into Project Management Consultancy (PMC) and real estate business.