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HCC to invest Rs. 40,000 crore in creating Lavasa like city in Gujarat

14 Jan 2009 Evaluate

Hindustan Construction Company (HCC), India's leading construction and infrastructure development company, has signed two MoUs with Government of Gujarat with a total investment of Rs.41,500 crores. The first MoU has been signed with the Gujarat Infrastructure Development Board to develop a Water Front City with a total investment of Rs.40,000 crores. The new city will be based on concept of Lavasa. Free India's first and largest Hill City being built by HCC near Pune, Maharashtra. The Water Front City will be developed over 4000 acres in Dholera Special Investment Region (SIR) located at the Gulf of Cambay about 129 km from Ahmedabad. Dholera is in the influence area of the Delhl-Mumbai Industrial Corridor (DMIC). The second MOU has been signed with Narmada Water Resources, Water Supply and Kalpasar Department for developing three water pipeline projects worth Rs.1500 crores.

 

The concept of new urbanism is gaining momentum globally and the company will initiate this modern and sustainable Water Front City in Gujarat, based on the model of Lavasa. The company will replicate its Lavasa business model which has already established a large network of business partners. The new Water Front City at Dholera will have an employment potential of 50,000 jobs and the actual construction will begin after various regulatory approvals like detailed project report, Environmental Impact Assessment (EIA) study and after development of the master plan of the region. The company shall act according to the provisions in the Special Investment Region Act 2009, township policy of Government of Gujarat and other provisions for any infrastructure development activities within or outside the assigned area.

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HCC Share Price

22.04 -0.04 (-0.18%)
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Peers
Company Name CMP
Larsen & Toubro 4012.65
Rail Vikas Nigam 297.65
NCC 163.60
KEC International 560.70
Kalpataru Projects 1248.65
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