Jurong Infra bags Rs 140cr Vuda housing project

The Visakhapatnam Urban Development Authority (Vuda) has appointed Jurong Infrastructure (India) Private Limited, an Indian arm of the Singapore-based construction company Jurong International, as construction contractor for its Rs 140-crore mega housing colony project at Madhurawada village near Visakhapatnam.

Vuda has earmarked 40 acres of land at Madhurawada, which is close to the seacoast, and invited global tenders to select the contractor.

Singapore-based Jurong participated in the tenders and it has submitted a detailed project report including designs and landscape some six months back. The company quoted the least for the construction of the project as compared to the other construction companies in fray.

"According to an agreement between Vuda and Jurong Infrastructure, all the security clauses were incorporated covering performance guarantee and withholding of certain amount out of each bill payable to the firm, after execution of the work duly inspected by the engineers concerned," D Vara Prasad, vice-chairman of Vuda, told Business Standard.

"The project envisages construction of 11 blocks with 10-storeyed buildings comprising 2,000 dwellings on a two-million sq ft of land. Each block will have two and three-bedroom flats with world-class standards. Each flat will cost between Rs 8 lakh and 12 lakh depending on the plinth area," he said.