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Wednesday, February 4, 2009

Faridabad based NPCC to receive stimulus

Faridabad based ailing PSU National Projects Construction Corporation Ltd may get stimulus from the government.

Project Monitor reported that ailing public sector unit National Projects Construction Corporation Ltd will receive INR 650 crore fiscal relief packages from the Centre.

A senior NPCC official said that the details and modalities are being worked out.

The official said that NPCC's current order book position is over INR 4,000 crore, adding that fencing of the Indo-Bangladesh border in the northeast was a major project on hand. The corporation is also executing projects for Assam Rifles, civil works for NTPC's power projects, apart from building all weather village roads in Bihar as part of the Centrally sponsored Pradhan Mantri Gram Sadak Yojana. There were no international projects on hand, although the company has executed contracts in Bhutan, Nepal and Iraq in the past.

Incorporated in 1957 and part of the ministry of water resources, Faridabad headquartered (Sector 25) NPCC was formed essentially to undertake irrigation projects. It subsequently diversified to other areas. NPCC is currently a loss making company, saddled with negative net worth.

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posted by Amit at 10:41 AM

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