 "Malaysia plans $ 30 bn investments in urban development projects")
Construction Industry Development Board (CIDB) of Malaysia has proposed to invest $ 30 billion in urban development and housing projects in India. Led by the Malaysia’s Minister of Works Haji Fadillah Bin Haji Yusof held a 30-member business delegation detailed discussions in this regard with the Minister of Urban Development and Housing & Urban Poverty Alleviation M Venkaiah Naidu in New Delhi on October 15, 2015
On behalf of CIDB, a government agency, presentations were made to Venkaiah Naidu and senior officials of the two urban ministries on concept plans for two proposed projects.
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. National Buildings Construction Corporation (NBCC) of the Ministry of Urban Development will be associated with these projects.
On his part, 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.
CIDB is a government agency which has so far implemented various construction projects overseas with an investment of $ 24 billion since its inception in 1995 and projects worth $ 8 billion are under execution.
Meanwhile, Chinese firms have also evinced interest in investing in the new urban sector projects in India. A 20 member Chinese delegation led by the chairman of SANY Group Liang Wengen met Venkaiah Naidu to discuss on investment opportunities in the country.
On behalf of CIDB, a government agency, presentations were made to Venkaiah Naidu and senior officials of the two urban ministries on concept plans for two proposed projects.
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. National Buildings Construction Corporation (NBCC) of the Ministry of Urban Development will be associated with these projects.
On his part, 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.
CIDB is a government agency which has so far implemented various construction projects overseas with an investment of $ 24 billion since its inception in 1995 and projects worth $ 8 billion are under execution.
Meanwhile, Chinese firms have also evinced interest in investing in the new urban sector projects in India. A 20 member Chinese delegation led by the chairman of SANY Group Liang Wengen met Venkaiah Naidu to discuss on investment opportunities in the country.
The Chinese delegation also met the Prime Minister Narendra Modi. SANY Group is China’s leading and world’s fifth largest construction machinery manufacturer with a market cap of $ 21 billion.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%