Enhanced autonomy for EIL, NBCC with Navratna status

Written by fe Bureau | New Delhi | Updated: Jun 25 2014, 08:19am hrs
Engineers India (EIL) and National Buildings Construction Corporation (NBCC) were on Tuesday conferred the coveted Navratna status, which would give the state-owned firms more financial and operational autonomy.

The Navratna status has been granted to the company subsequent to the fulfilment of the criteria prescribed by Department of Public Enterprises, Ministry of Heavy Industries and Public Enterprises, Government of India, EIL said in a statement here.

The upgraded status will provide the company with enhanced operational and financial autonomy to work in domestic and overseas markets, it said.

EIL has emerged as one of India's leading engineering consultancy and EPC companies with a diverse portfolio of projects in hydrocarbon, petrochemical, mining & metallurgy, fertiliser, power and infrastructure sectors.

In recent times, the company has expanded its operations internationally and is providing a wide range of engineering consultancy services on various international projects in the Middle East, Africa and South East Asia.

NBCC, which comes under the Ministry of Urban Development, provides civil engineering construction services in wide gamut of projects of varied nature, complexities & at socio-political geographical locations, both at home & overseas. NBCC is also executing redevelopment works of old & dilapidated government colonies and presses.

It has constructed the eco-friendly New Moti Bagh Complex under GPRA Scheme, instilling all possible green features in the campus. This is Indias first and largest Green Home Campus of its kind. On the similar lines, NBCCs on-going mega project under this segment is the much talked about East Kidwai Nagar Redevelopment work valuing about R5000 Crore.