India’s largest state-owned corporation enters Russia’s construction market

General Director of National Building Construction Corporation Anoop Kumar Mittal has set a goal of becoming a strategic investor in the construction market of St. Petersburg, according to information on infobrics.org.

General Director of National Building Construction Corporation Anoop Kumar Mittal has set a goal of becoming a strategic investor in the construction market of St. Petersburg, according to information on infobrics.org.

A three-day visit to the northern capital by this entrepreneur, whose position in India is equivalent to a government minister, was organized by Nina Abrosova, sports curator of the St. Petersburg regional branch of the Russian Engineering Union, who six months ago became the official representative of the Indian company in Russia.

Indian guests and representatives of private construction companies in St. Petersburg have discussed opportunities for cooperation in the construction of multi-functional social centers for the support of agriculture, for the construction of which the Governor of the Leningrad Region is willing to allocate land.

The subject of the negotiations between Indian visitors and Arkady Skorov – Director of the Dalpiterstroy, one of the top-three residential construction companies in St. Petersburg – was the signing of an agreement of intent to continue cooperation. The parties plan to sign the final version of this agreement during the meeting of the intergovernmental commission in December of this year, when the President of India comes to Moscow. The Indian investors had an opportunity to become acquainted with the Russian company’s projects during inspection visits to construction sites on which Dalpiterstroy is building high-rise residential complexes.

During the meeting between the head of NBCC and Vatanyar Yagya, Advisor to the Chairman of the Legislative Assembly of St. Petersburg on International Issues, it became known that, if the Indian state-owned company makes significant investments, the regional parliament is prepared to consider and adopt a special law guaranteeing the Indian side the completion of the investment project and security of the funds invested.

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