Malaysia proposes to invest USD 30 billion in India

Construction Industry Development Board of Malaysia has proposed to invest USD 30 billion in urban development and housing projects in India. Redevelopment of New Delhi Railway Station adjoining area as a mini-smart city is proposed to be taken up with an investment of about USD 24 billion, an official statement released here said.

CIDB also proposed to take up a Green City Project at Garhmukhteshwar in Uttar Pradesh, involving housing and Ganga cleaning projects, with an investment of about USD 4 billion. National Buildings Construction Corporation (NBCC) of the Ministry of Urban Development will be associated with these projects, it stated.

The Malaysian delegation, included senior representatives of government agencies like CIDB, Malaysian Highway Authority (LLM), Pembinan and EXIM Bank, besides private sectors companies IJM Construction, UEM Group, Selia Group, Amona Group, Sunway Constructions, KLCC Projecks, Scomi International and Veritas Architects.

KLCC, a property investment and facility management services company associated with building of Petronas Tower in Kaula Lumpur has expressed keen interest in smart city development in India, the statement said. Pembinan has shown similar interest in affordable housing projects in India, it added.