NBCC bags order worth Rs. 500 crores for National Museum development

NBCC India Limited has been entrusted by the Ministry of Environment, Forest and Climate, Government of India, to provide principle project consultancy and executing agency for the development of the National Museum of Natural History at Bhairon Marg, New Delhi.

The estimated cost of the project is Rs. 500 crores.

Recently, NBCC has also been in news regarding its takeover of Jaypee Infratech Limited. As per the directions of the Supreme Court order dated November 6, 2019 passed in the matter of Jaiprakash Associates Ltd. & Anr. Vs. IDBI Bank Ltd. & Anr., the Interim Resolution Professional of JIL has invited Resolution Plan from NBCC. The company has submitted the Resolution Plan for Jaypee Infratech Limited on November 17, 2019 with respect to the Corporate Insolvency Resolution Process of JIL.

Regarding the Amrapali works case, the Supreme Court has appointed NBCC to develop the projects and fixed the project management fees at 8 per cent. The value of the work has been estimated at Rs. 8,361 crores.

On Tuesday, the stock of NBCC closed at Rs. 36.90. On Wednesday, it opened at Rs. 37.80 and surged to Rs. 37.85, up by 2.6 per cent.