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NCC consortium bags Andhra Pradesh international centre contract

Tuesday, 09 Sep 2008
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A consortium of Nagarjuna Construction Co and NCC Infra Holdings has been awarded the Rs.1,000 crore project for development of Andhra Pradesh international centre at AP Bhawan in New Delhi. The Andhra Pradesh Cabinet approved the proposal for development of the proposed centre, which will include a guest house with five-star facilities, club house and residential quarters.

The developer has agreed to pay the state government 12.35 per cent on its annual gross revenue of the project during the licence period (30 years from commencement of commercial operations). In addition, the developer will also pay an annual minimum guaranteed amount of Rs.45 crore during the first 10 years from commencement of commercial operations, Rs.60 crore during the next 10 years and Rs.75 crore in the last 10 years.

The Cabinet also approved a proposal to allot 3,333 acre in Srikakulum district for setting up a 2,600 MW thermal power project to East Coast Energy Co. The allotment is part of 16,249.88 acre approved by the Cabinet for four major infrastructure projects in the state. The land for East Coast will cover five villages - Kakarapalli, Akashalakavaram, Kotapadu, Pothinayudupeta and Vaditandra.

The Cabinet approved allotment of 972.69 acre at Sompet in Srikakulam District, Andhra Pradesh, for a 1,980 MW thermal power project to be set up by Nagarjuna Construction Co. Approval was also given for allotment of 6,493.19 acre spread across 14 villages at Rs.1.52 lakhs an acre for the Vanpic port project in Prakasam district (Vadarevu Sea Port) and for 5,451 acres spread across seven villages in Guntur District (Nizampatnam Sea Port).

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