Hindustan Construction Company (HCC) forfeited the land parcel allotted to it in the Dholera special investment region (SIR), Gujarat for waterfront city project.

The company has missed its 31 January 2013 deadline for down payment of the 766 ha allotted to it in the Dholera special investment region (SIR). It had to make a Rs 92-crore down payment for land worth of Rs 300 crore.

HCC signed an MoU with state government to develop a waterfront city for Rs 40,000 crore during the Vibrant Gujarat Summit 2009. As a part of the plan 60,000 ha have been earmarked for industrial and commercial activities through the SIR Act, 2009. The state government had also offered land to two other companies Greater Dholera Infracon (an arm of Singapore-based USEL Group) and Hotmail founder Sabeer Bhatia’s Nano Works Developer Gujarat apart from HCC. The companies, with HCC, were allotted 2,736 ha at an estimated cumulative cost of about Rs 900 crore.

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