Project News Details

Rajasthan first state to firm up private investments in affordable housing

Rajasthan Government has taken lead in promoting affordable housing by signing four Memoranda of Understanding firming up an investment of Rs.5,400 cr. These four MoUs were a part of 27 MoUs signed entailing an investment of Rs.12,478 cr in housing and urban development projects in Jaipur today in the presence of Minister of Urban Development Shri M.Venkaiah Naidu and Chief Minister Smt.Vasundhara Raje Scindhia. These include 14 MoUs for promoting housing projects with an investment of Rs.9,273 cr. Tata Housing Development Company Ltd has committed to invest Rs.2,000 cr in affordable and mixed use township over an area of 10.12 hectares. Mahima Real Estate Private Ltd has signed MoU with the state government to invest Rs.1,700cr in affordable housing and group housing followed by National Building Construction Corporation (NBCC) and Wish Empire who have undertaken to invest Rs.500 cr each in Rajasthan. The 14 housing related investment projects are expected to provide employment to 26,650 persons. Total employment from the 27 MoUs signed today is expected to be 38,950. Other MoUs related to Medical and Health Care, Education, Industry and Tourism in different parts of Rajasthan. Speaking on the occasion, Shri M.Venkaiah Naidu complimented Rajasthan for being in the forefront of implementing new urban sector initiatives. He said that the MoUs mobilizing investments in affordable housing will act as light house to others. Shri Naidu further said that Rajasthan was the first state to submit AMRUT action plan to the Ministry of Urban Development, first to identify 40 cities for taking up housing projects under Housing for All Mission in urban areas and the first state to ensure complete convergence in implementing Smart City Mission, Atal Mission (AMRUT), Heritage Mission and Housing Mission. Shri Naidu noted that there is a new churning and new beginning by urban local bodies and the States since the launch of Smart City Mission and a new enthusiasm to address the challenges of urbanization in the country. The Minister said that recasting of country’s urban landscape is a challenging task given the inadequacy of basic infrastructure in urban areas which also offered immense investment opportunities. The Minister gave details of the benchmarks and actual availability in respect of basic services pointing out gaps in the range of 31% in respect of toilets and to a high of 96% in case of reuse and recycling of urban waste.

Other News

  • Punj Lloyd wins Haldia Refinery EPCC Package from IOC Diversified global conglomerate, Punj Lloyd has announced receiving a lump-sum turnkey contract for the EPCC Package 2 at Haldia Refinery, West Bengal from Indian Oil Corporation Ltd (IOCL) for a value of Rs 1094 crore. The scope of work for the project involves the Residual Process Design, Detailed Engineering including HAZOP study, engineering, procurement, construction and commissioning of the Sulphur Block comprising the Sulphur Refinery Unit (SRU), Amine Regeneration Unit (ARU), the Sou...
  • L&T Bags 1700 Cr. International EPC Order for 400 MW Gas Based Power Plant in Bangladesh Larsen & Toubro (L&T) has received an order valued at around 1700 Crores from Marubeni Corporation, Japan, for setting up the Bibiyana III 400 MW Combined Cycle Power Plant Project of Bangladesh Power Development Board (BPDB). BPDB awarded the EPC contract for setting up the 400 MW gas based power plant project to Marubeni Corporation of Japan, which in turn awarded the EPC sub-contract to L&T on turnkey basis. This plant will be located at Nabiganj Upzila in H...
  • IOC Planning Petrochemical Plant in Iran As per the reports in the media, Indian Oil Corp. (IOC) is planning to build USD 3 billion petrochemicals plant in Iran which will have access to cheap natural gas as its feedstock. India is planning investments in energy infrastructure in Iran. This includes ports and upstream gas production. IOC is looking at petrochemicals to drive growth. The company is planning an investment of around USD 4.5 billion in coming years to expand its business.