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सेमिनार: अंग्रेज़ी सीखने का अवसर (23 सितंबर: दोपहर 3 बजे)
Malaysia Offers $30 Billion Dollar Investment for Urban Development
Oct 27, 2015

Construction Industry Development Board (CIDB) of Malaysia has proposed to invest US $30 billion in urban development and housing projects in India. A 30 member business delegation led by the Malaysia's Minister of Works Haji Fadillah Bin Haji Yusof hold detailed discussions in this regard with the Minister of Urban Development and Housing & Urban Poverty Alleviation M. Venkaiah Naidu in New Delhi.

  • The Malaysian minister visited India with a huge 30 member delegation of senior representatives of 12 leading government and private companies of Malaysia.

  • On behalf of CIDB, a government agency, presentations were made to M. Venkaiah Naidu and senior officials of the two urban ministries on concept plans for two proposed projects.

  • Redevelopment of New Delhi Railway Station adjoining area as a mini-smart city is proposed to be taken up with an investment of about US $24 billion.

  • CIDB also proposed to take up a Green City Project at Garh Mukhteshwar in Uttar Pradesh involving housing and Ganga cleaning projects with an investment of about US $4 billion.

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

  • Urban Development and Housing & Urban Poverty Alleviation ministry suggested to NBCC to make detailed presentations to the concerned Ministries of Railways, Finance, Water Resources and the Government of Delhi and Uttar Pradesh for further consideration.

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

Chinese companies too show interest: A 20 member Chinese delegation led by the Chairman of SANY Group Liang Wengen also met Venkaiah Naidu and held discussions on investment opportunities in the new urban sector initiatives in India.

  • The delegation comprised of representatives of 9 public and private sector companies of China including State Power Investment Corporation, Power Construction Corporation of China, CHINT Group (Industrial Electrical Equipment and Energy), China Minsheng Investment Corporation (Private Financial Investment), CCTEG Shenyang Engineering Company (Designing), Tebian Electric Apparatus Stock Company (Transformers) and Golden Concord Holdings Ltd (Integrated Energy).

  • SANY Group is China's No.1 and world's 5th largest construction machinery manufacturer with a market cap of US $ 21 billion.

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