NBCC readying Rs.15000cr plan to finish NCR flats

New Delhi: NBCC a public sector construction company is readying a plan to complete the apartments that were to be completed and delivered by Jaypee Infratech and Amrapali Group and will seek support from authorities of Noida.

It is estimated that the cost of completion of Amrapali apartments project is at around Rs 7,000 crore, while the Jaypee Infratech flats projects and other small projects will require another Rs 8000 crore for completion. UP Government and the Center have set up a panel headed by Union housing secretary D S Mishra, to work on the plan for completion of a long-delayed project.

While NBCC is not keen to take over the companies, it is open to the idea of being a project management consultant. While the assets will remain in the company, NBCC and the government are looking for options for the nominee on the boards of the companies to ensure that they have complete control over the affairs of the company and promoters do not indulge without consent.

“The details of the structure will be worked out including, how the government nominees can have veto powers in certain matters,” said government official.

NBCC is looking to generate revenues once the residential part of the projects are completed