Visakhapatnam Urban Development Authority (VUDA) has finally asked two companies to submit feasibility studies, concept of designs, and quotation for the Rs100 crore mega housing project on a 40-acre site at Madhurawada near here.
Initially, six reputed firms expressed their interest to participate in this mega project. After technical committee evaluation, Vuda asked four companies -- Ambience Properties Limited, SVEC Constructions, IVRCL Infrastructures & Projects Limited and EVAN LIM & Co Private Limited, Singapore -- to submit the pre-feasibility reports.
Of these four companies, EVAN LIM & Co and IVRCL Infrastructures & Projects submitted their pre-feasibility reports to VUDA in time and stand in the final fray.
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The two companies have to submit their reports by the end of July, D Srinivasulu, the vice-chairman of Vuda, said. Technical evaluation committee will finalize the final bidder by the first week of August, he added.
Vuda created a website to market this mega housing project internationally.