NBCC bags Rs 968 crore contract in Maldives to construct 2,000 flats

NEW DELHI: State-owned NBCC on Friday said it has bagged a Rs 968 crore contract, its biggest order in the overseas market, for the construction of 2,000 social housing in Maldives.

In a regulatory filing, NBCC informed that it has secured the work order of construction of 2000 Social Housing at Hulhumale, Maldives on EPC basis.

“The total cost of the project is USD 130 Million (Rs 968.50 crore approx),” it added.

With the signing of loan agreement between Fahi Dhiriulhun Corporation Limited (FDC) and Exim Bank of India on September 23, 2021, NBCC has been entrusted with the task of constructing 2000 social housing units in Hulhumale under Buyer’s Credit.

“It is worth highlighting that this prestigious project is the biggest ever overseas work secured by NBCC,” the company said in a statement separately.

The project sprawls over 7.2 acres of land area across seven plots.