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Cloud over 65-storey trade centre project in Guwahati

By Rituraj Borthakur

GUWAHATI, Aug 8 - Uncertainty loomed over the much-hyped 65-storey �Twin Tower Trade Centre� project in Guwahati after the �disappearance� of National Buildings Construction Corporation (India) from the scene, prompting the State government to look for a new developer.

While the developments were kept under wraps, the Assam Industrial Development Corporation (AIDC) has advertised seeking �request for proposals� to rope in a consultant for assisting the government in developing the twin towers.

The consultant will have to assist the government �in extensive marketing and promotion of the project to identify domestic, national or international potential developers for the proposed project�.

Sources in the AIDC, however, sounded skeptical and raised questions over feasibility of the project estimated at Rs 2,000 crore.

Ahead of the Global Investors� Summit in February 2018, the Assam government had signed an MoU with the NBCC (India) Limited for setting up the �Twin Tower Trade Centre� in Guwahati at a project cost of Rs 1,950 crore in self-financing mode.

�The story during Advantage Assam summit was such that there would be a big industrial boom in the State which would lead to a high demand of premium corporate office space. Probably, that is why the State government could convince the NBCC, a PSU, to get involved in the project. However, nothing of that sort happened and apparently, no interest was seen from any corner for booking space in the project,� sources said.

While the Government of Assam has committed 32 bighas of land � estimated to cost around Rs 180 crore � for the project, in the MoU with NBCC, there was a provision that the State government would be given 40 per cent of the space.

�There was no other funding proposal from the government side. The builder would have to build at their own cost,� sources said.

The MoU signing more than two years back in February, 2018 was also attended by Union Minister of State (Independent Charge) for Housing and Urban Affairs Hardeep Singh Puri and the government had said that the project would be completed within a period of 60 months and work would commence in July that year.

�No progress was made so far. We are looking for a new developer for the project for which we intend to engage a consultant,� sources in the AIDC said.

Significantly, the �request for proposal� document released yesterday nowhere mentions that the towers would be 65-storey, triggering speculations that the earlier plans have been shelved.

In January last year, NBCC had floated tender for construction of the �Twin Tower Trade Centre� in Assam, but apparently no bidder evinced interest. The proposal was for construction of the �World Trade Centre� on �design, engineering, procurement and construction basis, including operation and maintenance�.

�If a reputed PSU like NBCC could not make any headway, it is unlikely that the government would get any party to develop the project,� sources added.

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— Dalai Lama(THIS IS STATIC)

Cloud over 65-storey trade centre project in Guwahati

GUWAHATI, Aug 8 - Uncertainty loomed over the much-hyped 65-storey �Twin Tower Trade Centre� project in Guwahati after the �disappearance� of National Buildings Construction Corporation (India) from the scene, prompting the State government to look for a new developer.

While the developments were kept under wraps, the Assam Industrial Development Corporation (AIDC) has advertised seeking �request for proposals� to rope in a consultant for assisting the government in developing the twin towers.

The consultant will have to assist the government �in extensive marketing and promotion of the project to identify domestic, national or international potential developers for the proposed project�.

Sources in the AIDC, however, sounded skeptical and raised questions over feasibility of the project estimated at Rs 2,000 crore.

Ahead of the Global Investors� Summit in February 2018, the Assam government had signed an MoU with the NBCC (India) Limited for setting up the �Twin Tower Trade Centre� in Guwahati at a project cost of Rs 1,950 crore in self-financing mode.

�The story during Advantage Assam summit was such that there would be a big industrial boom in the State which would lead to a high demand of premium corporate office space. Probably, that is why the State government could convince the NBCC, a PSU, to get involved in the project. However, nothing of that sort happened and apparently, no interest was seen from any corner for booking space in the project,� sources said.

While the Government of Assam has committed 32 bighas of land � estimated to cost around Rs 180 crore � for the project, in the MoU with NBCC, there was a provision that the State government would be given 40 per cent of the space.

�There was no other funding proposal from the government side. The builder would have to build at their own cost,� sources said.

The MoU signing more than two years back in February, 2018 was also attended by Union Minister of State (Independent Charge) for Housing and Urban Affairs Hardeep Singh Puri and the government had said that the project would be completed within a period of 60 months and work would commence in July that year.

�No progress was made so far. We are looking for a new developer for the project for which we intend to engage a consultant,� sources in the AIDC said.

Significantly, the �request for proposal� document released yesterday nowhere mentions that the towers would be 65-storey, triggering speculations that the earlier plans have been shelved.

In January last year, NBCC had floated tender for construction of the �Twin Tower Trade Centre� in Assam, but apparently no bidder evinced interest. The proposal was for construction of the �World Trade Centre� on �design, engineering, procurement and construction basis, including operation and maintenance�.

�If a reputed PSU like NBCC could not make any headway, it is unlikely that the government would get any party to develop the project,� sources added.

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— Dalai Lama(THIS IS STATIC)