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NBCC's Not to Invest Money in Amrapali Projects

Infra News - Published on Mon, 19 Aug 2019

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PTI, citing state-owned NBCC, reported that it will not “invest any money” in completing debt-laden Amrapali's stalled projects that require a whopping INR 8,500 crore investment. Last month, the Supreme Court asked the National Buildings Construction Corporation to complete pending projects of the Amrapali Group at an 8 per cent commission.

Replying to an investor query regarding balance construction cost for stalled Amrapali projects and how the same will be funded, NBCC's Executive Director (Finance) Yogesh Sharma said the total estimated investment required is around INR 8,500 crore.

He said in an investor call after announcing financial results for the first quarter, this amount includes 8 per cent PMC (project management consultancy) margin for the NBCC which has been agreed and ordered by the Supreme Court.

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Posted By : Mohan Sharma on Mon, 19 Aug 2019
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