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NBCC signs MoU with RINL to redevelop, monetise 22.19 acre land in Visakhapatnam


NBCC signs MoU with RINL to redevelop, monetise 22.19 acre land in Visakhapatnam
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Last Updated: Mar 04, 2021, 05:16 PM IST
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Synopsis
The land parcel is located at Maddilapalem, Visakhapatnam. The MoU (Memorandum of Understanding) was signed on February 26. The redevelopment and monetisation would be undertaken on a self-sustainable model.
Agencies
NBCC will also get a project marketing fee at 1% of actual sale proceeds on account of expenditure towards the appointment of real estate consultant etc
State-owned construction firm
NBCC Ltd on Thursday said it has executed an MoU with Rashtriya Ispat Nigam Ltd (RINL) for redevelopment and monetisation of 22.19 acres of land in Visakhapatnam. ....

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