NBCC: From the National Cooperative Development Corporation, the company has received the order.
In early trading on December 14, shares of NBCC Limited saw a nearly 6 percent increase, reaching a 52-week high of Rs 84.75. This came after the company announced that it had secured a project management consultancy contract worth Rs 1,500 crore for the development of 1,469 warehouses and other infrastructure related to the agriculture sector.
The National Cooperative Development Corporation (NCDC) and Primary Agriculture Cooperative Society (PACS) in various states have awarded the company the order, NBCC announced in a regulatory filing on December 13.
The World’s Largest Grain Storage Plan in the Cooperative Sector was given the go-ahead to launch as a pilot project by the Union Cabinet in May of this year. By utilizing the “whole-of-government” approach, the Plan calls for the construction of several agri-infrastructures at the Primary Agricultural Credit Societies (PACS) level, such as processing units, warehouses, custom hiring centers, Price Shops, etc.
A Memorandum of Understanding (MoU) was inked by the business and the Institute of Chartered Accountants of India (ICAI) in November. According to the terms of the MoU, the ICAI has committed to awarding deposit work on a turnkey basis for the planning, designing, and construction of the organization’s buildings as well as renovation projects at various locations throughout India.
