NBCC Signs USD 75 Million Deal For 1,008 Affordable Homes in Seychelles

07 Aug 2026 CW Team

The agreement was signed on July 29 in the presence of the Vice President of the Republic of Seychelles, Sebastien Pillay, and Dr KP Mahadevaswamy, chairman and managing director of NBCC. The formal signatories were Joseph Francois, Secretary of State for Lands, Housing and Infrastructure of Seychelles, and Pradeep Sharma, Executive Director (Engineering) of NBCC, completing the bilateral arrangement.

The scope of works includes the construction of the housing units and essential associated infrastructure, with provision for a dedicated sewage treatment plant to support sustainable community living on Île Aurore. The project design is intended to incorporate modern amenities and resilient infrastructure to enhance urban living standards in the island context.

Officials indicated that the development is expected to contribute to improving housing availability and to promote sustainable urban development in Seychelles, while strengthening bilateral cooperation on infrastructure. The collaboration is presented as a significant milestone in NBCC’s expanding international portfolio and as an example of India’s development partnership through project delivery and technical expertise abroad.

NBCC will proceed to mobilise resources and coordinate with Seychelles authorities and the funding agency to implement the project in phases, with attention to quality, sustainability and timely delivery. The LoC financing and the contractual framework are outlined as central to enabling the execution and institutional cooperation required for the undertaking.

NBCC (India) Limited, a Navratna central public sector enterprise under the Ministry of Housing and Urban Affairs, has signed an agreement with the Government of the Republic of Seychelles to develop the Île Aurore Housing Project comprising 1,008 affordable housing units and associated infrastructure. The project will be financed through a line of credit of USD 75 million (mn) extended by the Export-Import Bank of India, and NBCC will undertake design and construction responsibilities under the accord. The agreement was signed on July 29 in the presence of the Vice President of the Republic of Seychelles, Sebastien Pillay, and Dr KP Mahadevaswamy, chairman and managing director of NBCC. The formal signatories were Joseph Francois, Secretary of State for Lands, Housing and Infrastructure of Seychelles, and Pradeep Sharma, Executive Director (Engineering) of NBCC, completing the bilateral arrangement. The scope of works includes the construction of the housing units and essential associated infrastructure, with provision for a dedicated sewage treatment plant to support sustainable community living on Île Aurore. The project design is intended to incorporate modern amenities and resilient infrastructure to enhance urban living standards in the island context. Officials indicated that the development is expected to contribute to improving housing availability and to promote sustainable urban development in Seychelles, while strengthening bilateral cooperation on infrastructure. The collaboration is presented as a significant milestone in NBCC’s expanding international portfolio and as an example of India’s development partnership through project delivery and technical expertise abroad. NBCC will proceed to mobilise resources and coordinate with Seychelles authorities and the funding agency to implement the project in phases, with attention to quality, sustainability and timely delivery. The LoC financing and the contractual framework are outlined as central to enabling the execution and institutional cooperation required for the undertaking.

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