"NBCC India Ltd and ICAI Sign Memorandum of Understanding"

In a significant development, NBCC (India) Limited (NBCC) has officially entered into a Memorandum of Understanding (MoU) with the Institute of the Chartered Accountants of India (ICAI). The agreement outlines a collaborative effort wherein ICAI has entrusted NBCC with the responsibility of "Planning, Designing, and Execution of ICAI's Buildings & Renovation Works at various locations in India."

Under the terms and conditions set forth in the MoU, ICAI has designated the aforementioned work as a deposit project to be executed on a turnkey basis. NBCC has willingly accepted the responsibility and committed to undertaking and completing the designated projects in accordance with the agreed-upon terms.

Notably, NBCC will be entitled to a Project Management Consultancy (PMC) fee set at 6.5% (excluding GST) on the actual project cost. This collaboration marks a strategic partnership between NBCC and ICAI, aiming to enhance the planning, design, and execution of ICAI's building and renovation initiatives across various locations in India.

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