Malaysia to invest $30 billion in Indian infra projects
Malaysia on Thursday proposed to invest $30 billion in urban development and housing projects in India. A 30-member Malaysian delegation, led by Minister of Works Haji Fadillah Bin Haji Yusof, met Minister of Urban Development and Housing M Venkaiah Naidu to discuss investment opportunities in developing and redeveloping urban areas under the Smart City Mission. “Redevelopment of New Delhi Railway Station adjoining area as a mini-smart city is proposed to be taken up with an investment of about $24 billion. CIDB also proposed to take up a Green City Project at Garhmukhteshwar in Uttar Pradesh involving housing and Ganga cleaning projects with an investment of about $4 billion,” Ministry of Urban Development said in a statement. On Thursday, officials from Malaysia’s Construction Industry Development Board (CIDB) and National Buildings Construction Corporation (NBCC) of the Ministry of Urban Development made presentations to Venkaiah Naidu and senior officials of the two urban ministries on the two proposed projects. “Appreciating Malaysia’s interest in investing in India, Naidu suggested to NBCC to make detailed presentations to the concerned ministries of Railways, Finance, Water Resources and the Government of Delhi and Uttar Pradesh for further consideration,” the ministry said. The Malaysian delegation had senior representatives of government agencies like CIDB, Malaysian Highway Authority (LLM), Pembinan and EXIM Bank. A number of private sectors companies, including IJM Construction, UEM Group, Selia Group, Amona Group, Sunway Constructions, KLCC Projecks, Scomi International and Veritas Architects, were a part of the visiting delegation. A 20-member Chinese delegation, led by SANY Group Chairman Liang Wengen, also discussed investment opportunities in the new urban sector initiatives in India during their meeting with Naidu. The delegation had representatives from 9 public and private sector companies of China including State Power Investment Corporation, Power Construction Corporation of China and CHINT Group. “Naidu explained that Smart City Mission offered sizeable investment opportunities in retrofitting and redevelopment of identified urban areas besides building greenfield townships and in public transport, solid waste management, 24x7 water and power supply, smart grid management and other pan-city smart solutions,” the ministry said.
October 16, 2015 | 4:49pm IST.
to success.