To expand its overseas operations, state-run construction firm NBCC plans to enter Kazakhstan and Kyrgyzstan markets and is looking for partners to form joint ventures.
National Buildings Construction Corporation (NBCC) forayed into overseas markets in 1977, and started executing projects of diverse nature in Libya, Iraq, Yemen, Nepal, Maldives, Mauritius, Turkey and Botswana.
Presently, the company has its presence in Maldives, Turkey and Botswana implementing various projects and earning consistent revenue.
“We are looking to expand our business operations offshore and have prepared plans to establish joint ventures in two countries namely Kazakhstan and Kyrgyzstan,” NBCC Managing Director Anoop Mittal told PTI.
The company is also planning to bid for two projects in Oman through its office in the Gulf nation, Mittal added.
NBCC had signed an MoU with Al Naba Services LLC in Oman in order to jointly explore and secure infrastructure projects there and other neighbouring countries.
The PSU had secured orders worth Rs 17,516 crore in the last fiscal including some big ticket order projects for redevelopment of ITPO exhibition venue at Pragati Maidan, and AIIMS.
The company is aiming to secure orders worth Rs 30,000 crore in the current fiscal to take its outstanding order book to around Rs 65,000 crore by the end of 2016-17.
NBCC, a Navratna enterprise under the administrative control of Ministry of Urban Development, has three main segments — Project Management Consultancy (PMC), Real Estate Development and EPC Contracting.