NBCC to redevelop VSNL land assets for Rs 15,000 crore

By | November 1, 2016

The government will engage state-run construction company NBCC India Ltd to monetise around 771 acre of prime land held by erstwhile VSNL, a company that the government had sold to the Tata group in 2002 as part of its asset-sale programme. The land assets of VSNL, however, were not part of the strategic sale. The government is expected to raise around Rs 15,000 crore from monetising this land in which NBCC will take development charges. A senior government official confirmed the development and said the process is likely to start by the end of this year.

Source: Economic Times