Agreement Signed Between NBCC and Govt of Seychelles for 1008 Affordable Housing Project
NBCC (India) Limited has signed a formal agreement with the Government of the Republic of Seychelles to undertake the construction of the Ile Aurore Housing Project, which includes 1008 affordable housing units and associated infrastructure. This project is set to enhance urban living standards in Seychelles.The agreement was formalized on July 29, 2026, in Seychelles. The contract was signed by Mr. Joseph Francois, Secretary or State and Lands, Housing and Infrastructure of the Government of the Republic of Seychelles, and Mr. Pradeep Shanna, Executive Director (Engg.) of NBCC.
The Ile Aurore Housing Project involves the construction of 1008 affordable housing units alongside necessary associated infrastructure. The scope also includes developing a sewage treatment plant (STP).
Prior to the final agreement, the Government of the Republic of Seychelles had issued a Letter of Intent, engaging NBCC (India) Limited as the Project Management Consultant. This consultancy role encompasses planning and design for the project's requirements.
The project is valued at USD 75 Million and will be funded through a Line of Credit (LoC) scheme extended by the Export-Import Bank of India (EXIM Bank).
NBCC Stock Price Movement
Today, the stock of NBCC (India) Limited slipped marginally, settling at ₹94.60 after closing down 0.03% in trading today. The company’s equity recorded a total traded volume of approximately 4.1 million shares during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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