NBCC inks landmark housing agreement with Seychelles
NBCC (India) Limited, a Navratna CPSE under the Ministry of Housing and Urban Affairs, Government of India, has signed a landmark agreement with the Government of the Republic of Seychelles for the construction of the Île Aurore Housing Project, comprising 1,008 affordable housing units along with associated infrastructure in Seychelles.
The agreement was signed on July 29 in the august presence of HE Sebastien Pillay, Vice President of the Republic of Seychelles, and Dr KP Mahadevaswamy, Chairman & Managing Director, NBCC (India) Limited.
The agreement was formally signed by Joseph Francois, Secretary of State, Lands, Housing and Infrastructure, Government of the Republic of Seychelles, and Pradeep Sharma, Executive Director (Engineering), NBCC (India) Limited.
The project envisages the development of 1,008 affordable housing units along with associated infrastructure, aimed at enhancing urban living standards and supporting sustainable development in Seychelles. The project will be funded through a Line of Credit (LoC) of $75 million extended by the Export-Import Bank of India (EXIM Bank).
The project scope also includes the execution of essential associated infrastructure works, such as a dedicated Sewage Treatment Plant (STP), ensuring sustainable and modern community living standards on Île Aurore. The project is expected to contribute significantly to improving housing availability while promoting sustainable urban development in Seychelles. This strategic collaboration marks another significant milestone in NBCC’s expanding international portfolio and underscores the company’s expertise in executing large-scale housing and infrastructure projects.
It also reinforces NBCC’s commitment to contributing to India’s development partnerships through the delivery of quality infrastructure solutions abroad.
