Malaysia proposed to invest 30 billion US dollars for urban development in India

Oct 16, 2015 15:48 IST

The Construction Industry Development Board (CIDB) of Malaysia on 15 October 2015 proposed to invest 30 billion US dollars in urban development and housing projects in India.

The 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 US dollars. 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 US dollars.

The National Buildings Construction Corporation (NBCC) of the Union Ministry of Urban Development will be associated with these projects.

CIDB is a Malaysia based government agency which has so far implemented various construction projects overseas with an investment of 24 billion US dollars since its inception in 1995 and projects worth 8 billion US dollars are still under execution.

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