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  1. NBCC likely to set up overseas subsidiary

NBCC likely to set up overseas subsidiary

On the back of a growing pipeline of projects abroad, public sector enterprise NBCC (India) is planning to set up an overseas subsidiary company to oversee such projects.

By: | Mumbai | Published: March 17, 2017 5:30 AM
NBCC recently won a project management and consultancy (PMC) contract to construct the Supreme Court Building in Mauritius for million (R250 crore). (Representative image: Reuters)

On the back of a growing pipeline of projects abroad, public sector enterprise NBCC (India) is planning to set up an overseas subsidiary company to oversee such projects. Anoop Kumar Mittal, CMD, NBCC (India), told FE: “One area we have neglected till now is the overseas markets so we are thinking of setting up a subsidiary company that will work only for these markets abroad. We will take this proposal to our board of directors shortly and if all goes well, we should have our overseas subsidiary in place in another three to six months’ time.”

NBCC recently won a project management and consultancy (PMC) contract to construct the Supreme Court Building in Mauritius for $33 million (R250 crore). This is NBCC’s second project in Mauritius after the Indira Gandhi Cultural Centre. It is expecting to win a third project in Mauritus in a months’ time in the housing segment.
The company is also engaged in another project in the Maldives and has executed both PMC and engineering, procurement and construction (EPC) projects in the past across countries such as Libya, Iraq, Yemen, Turkey, Botswana and Nepal.

Mittal was in Mumbai to sign a memorandum of understanding (MoU) with the Vidarbha Irrigation Development Corporation (VIDC), government of Maharashtra, for an irrigation project work order under the Gosikhurd National Project, for R6,000 crore. The first phase of work is valued at R1,058 crore, and is expected to be completed in about 18 months. The entire project is expected to be completed in three years.

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