HCC signs agreement for new city
14 January 2009
Hindustan Construction Company (HCC) has signed a Memorandum of Understanding with the government of Gujarat province to develop a new waterfront city in Dholera. Total investment for the scheme is put at INR 40000 Crore (US$ 8.2 billion), and it will be built on similar lines to the company's hilltop Lavasa development near Pune, Maharashtra.
The city development will cover some 4000 acres (16.2 km2) in the Dholera Special Investment Region. Following today's signing, HCC will develop a master plan for the development, which will be subject to an Environmental Impact Assessment and other regulatory approvals before work can get underway.
The company points its current Lavasa project, a 12500 acre (50,6 km2) new city development near Pune, as a guide to its plans for the Dholera scheme. When complete Lavasa will include businesses, hotels, education, healthcare and research establishments alongside houses, built around an attractive hilltop lake.
Ajit Gulabchand, chairman and managing director of HCC said, "The concept of new urbanism is gaining momentum globally and we are happy to initiate this modern and sustainable water front city in Gujarat based on this model. We are confident of replicating our successful Lavasa business model, which has already established a large network of business partners. The innovative nature of this project is matched only by the Gujarat' government's keen interest to develop world-class infrastructure in the state."
