Malaysia proposes to invest US$ 30 billion in urban development and housing projects in India

New Delhi: The Construction Industry Development Board (CIDB) of Malaysia has proposed to invest $30 billion in urban development and housing projects in India.

A 30 member strong business delegation that was headed by Malaysia's Minister of Works Haji Fadillah Bin Haji Yusof met India's union urban development and housing & urban poverty alleviation minister Venkaiah Naidu in New Delhi and held detailed discussions

CIDB officials made presentations to Naidu and senior ministry officials on concept plans for two proposed projects. Redevelopment of New Delhi Railway Station's adjoining area as a mini-smart city is proposed to be taken up with an investment of about $24 billion. 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 $4 billion. Indian government body National Buildings Construction Corporation ( NBCC) will be associated with these projects.

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