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Malaysia's Construction Industry Development Board (CIDB) has proposed to invest $30 billion in two urban development and housing projects in India, a statement from the Ministry of Urban Development said on Thursday.
Malaysia’s Minister of Works Haji Fadillah Bin Haji Yusof, along with a 30-member delegation, met Union Minister of Urban Development and Housing & Urban Poverty Alleviation M. Venkaiah Naidu here.
"Redevelopment of New Delhi Railway Station adjoining area as a mini-smart city is proposed to be taken up with an investment of about $ 24 billion. CIDB also proposed to take up a Green City Project at Garhmukhteshwar in Uttar Pradesh involving housing and Ganga cleaning projects with an investment of about $ 4 billion," the statement said.
National Buildings Construction Corporation (NBCC) will be associated with these projects. The Ministry has asked NBCC to make detailed presentations to the Ministries of Railways, Finance, Water Resources and the Government of Delhi and Uttar Pradesh for further consideration.
The Malaysian delegation included representatives of government agencies like CIDB, Malaysian Highway Authority (LLM), Pembinan and EXIM Bank besides private sectors companies.
The statement added that a 20-member Chinese delegation led by the Chairman of SANY Group Liang Wengen also met Naidu and held discussions on investment opportunities in India's urban sector initiatives.
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