Key Facts

A government order set up the Tamil Nadu Infrastructure and Construction Corporation, a public sector undertaking wholly owned by the state government, modelled on the Union government's National Buildings Construction Corporation (NBCC). Announced in the Assembly on 18 August, it was established with an authorised capital of Rs. 15 lakh and paid-up capital of Rs. 10 lakh, and will take up government construction works worth more than Rs. 200 crore; it may also build on unused government land, develop metros, industrial hubs and IT parks, and bid for outside contracts.

GK Context

NBCC (India) Limited, a Navratna central public sector enterprise under the Ministry of Housing and Urban Affairs, undertakes project management consultancy, real estate development and construction for government bodies across India. State governments setting up NBCC-model corporations aim to retain project management fees within the state, reduce dependence on central agencies, and generate additional revenue by bidding for construction contracts outside the state as well.