NBCC plans to enter Kazakhstan, Kyrgyzstan markets
The Dollar Business Bureau
In a bid to expand overseas, the state-run construction company National Building Construction Corporation is mulling to foray into Kyrgyzstan and Kazakhstan markets and is looking out for partners to form joint ventures.
NBCC, a Navratna enterprise under the Ministry of Urban Development, ventured into the overseas markets in 1977 and executed projects in Turkey, Botswana, Libya, Nepal, Yemen, Iraq, Maldives and Mauritius.
Besides the plan to establish joint ventures in two countries, the plans to bid for two projects in Oman is also on the cards, NBCC MD Anoop Mittal told the media.
Al Naba Services LLC, Oman and NBCC had inked an MoU in order to jointly explore and secure infrastructure projects in Oman and other neighbouring nations.
NBCC, a Public Sector Unit largely owned by GoI, secured orders valuing Rs. 17.516 crore in the last fiscal. The massive order included big projects for redevelopment of ITPO at Pragati Maidan and AIIMS.
In the current fiscal, the company’s target is to bag orders worth Rs. 30,000 crore, which will take the outstanding orders to Rs. 65,000 crore by FY17.
NBCC has three main segments, namely EPC Contracting, Project Management Consultancy (PMC) and Real Estate Development.
to success.