State-owned construction company National Buildings Construction Corp (NBCC) has said that its board has approved the participation of the company in a joint venture with the Maharashtra Government and private entity to develop a smart industrial city near Navi Mumbai.
The project, which will be located at Pen in Raigad near Navi Mumbai, is set to be developed on a public-private partnership (PPP) model.
“In addition to PMC (Project Management Consultancy) business opportunities, the project will generate significant income to NBCC through profit sharing as SPV partner,” stated the company.
The company further added,“The detailed terms and conditions will be submitted after finalisation among collaborators.”
The smart city will offer integrated infrastructures along with clean and green environment, providing best experiences of business, living, learning, recreation and health facilities at reasonable cost.