NBCC Launches Rs 10,000 Crore Development Projects in Goa

NBCC has announced new development and redevelopment projects in Goa with a total value exceeding Rs 10,000 crore. The state-owned company will execute these projects in phases, starting with six major initiatives worth over Rs 1,700 crore, utilizing a self-sustainable model with no financial aid from the Goa government.

State-owned enterprise NBCC is poised to undertake substantial development and redevelopment endeavors in Goa, cumulatively valued at approximately Rs 10,000 crore, as disclosed by the construction company on Monday.

Initially, six prominent projects, exceeding a combined value of Rs 1,700 crore, will be rolled out, utilizing an innovative self-sustaining model that eschews financial support from the Goa government.

This strategic partnership is designed to rejuvenate underutilized land parcels and antiquated structures, enhancing asset utility and amplifying returns for Goa's government—a move formalized by a previously signed MoU between NBCC and the Goan administration.

The projects span diverse areas, including commercial spaces at key Panjim locations, an administrative edifice in Porvorim, and a novel hotel and circuit house at Altinho, all covering a plot area of 53,000 square meters and an approximate built-up area of 185,000 square meters.

Revenue projections from this phase are expected to surpass Rs 1,700 crore. NBCC's remit extends to assessing the redevelopment potential of the Vasco bus stand, a part of its broader strategy to transform underemployed sites across the nation, with notable past successes in New Delhi's New Moti Bagh and East Kidwai Nagar.

Further expanding its redeployment model nationally, NBCC is presently engaged in the refurbishment of 7 GPRA colonies in Delhi and has secured development assignments in Srinagar and Kochi, valued at Rs 15,000 crore and Rs 2,000 crore respectively. (ANI)

(With inputs from agencies.)