Seychelles: State-owned NBCC (India) Limited has signed a formal agreement with the Government of the Republic of Seychelles for the Ile Aurore Housing Project, marking a significant milestone in India’s international infrastructure cooperation. The project involves the construction of 1,008 affordable housing units along with associated infrastructure and is valued at USD 75 million.
Funded through the Export-Import Bank of India (EXIM Bank) under its Line of Credit (LoC) programme, the housing project aims to improve urban living standards and support sustainable development in Seychelles.
NBCC to Build 1,008 Affordable Housing Units in Seychelles
Under the agreement, NBCC will oversee the development of the Ile Aurore Housing Project, which includes:
- Construction of 1,008 affordable housing units.
- Development of supporting infrastructure.
- Modern urban planning to improve residential facilities.
- Sustainable infrastructure to enhance quality of life.
The project is expected to contribute significantly to Seychelles’ affordable housing initiatives while strengthening bilateral cooperation between India and Seychelles.
Project Funded Through EXIM Bank Line of Credit
The USD 75 million housing project will be financed through the Export-Import Bank of India (EXIM Bank) under its Line of Credit (LoC) scheme.
The funding mechanism reflects India’s continued support for infrastructure development in partner countries through concessional financing and technical expertise.
Agreement Signed in Presence of Senior Dignitaries
The agreement was signed on July 29, 2026, in the presence of:
- H.E. Sebastien Pillay, Vice President of the Republic of Seychelles.
- K. P. Mahadevaswamy, Chairman and Managing Director, NBCC.
The agreement was formally signed by:
- Mr. Joseph Francois, Secretary of State for Lands, Housing and Infrastructure, Republic of Seychelles.
- Mr. Pradeep Sharma, Executive Director (Engineering), NBCC.
The signing ceremony marked the official commencement of one of NBCC’s major international housing development assignments.
Project Follows Letter of Intent Issued in March 2026
The latest agreement follows the Letter of Intent (LoI) issued to NBCC in March 2026, appointing the company as the Project Management Consultant (PMC) for the Ile Aurore Housing Project.
With the formal agreement now in place, NBCC will move forward with the execution and management of the project.
International Project Strengthens NBCC’s Global Presence
The Seychelles housing project represents another important overseas assignment for NBCC and reinforces the company’s expanding presence in international infrastructure and housing development.
The project is expected to showcase NBCC’s expertise in project management, engineering and sustainable urban infrastructure while strengthening India’s development partnership with Seychelles.
Confirmed Work Order Adds to NBCC’s Project Pipeline
The project has been disclosed as a confirmed work order, making it a firm and executable international contract for NBCC.
According to the company, the order:
- Is valued at USD 75 million for the housing project.
- Includes construction of 1,008 affordable homes and related infrastructure.
- Marks NBCC’s first major publicly disclosed international project announcement in recent quarters.
- Strengthens the company’s overseas project portfolio.
The contract is expected to contribute positively to NBCC’s future order book and international business opportunities.
Importance of the Ile Aurore Housing Project
The project is expected to deliver several long-term benefits, including:
- Expanding affordable housing availability in Seychelles.
- Supporting sustainable urban development.
- Strengthening India-Seychelles infrastructure cooperation.
- Creating modern residential infrastructure with supporting public amenities.
- Enhancing NBCC’s reputation as an international infrastructure development company.
About NBCC (India) Limited
NBCC (India) Limited is a Navratna Central Public Sector Enterprise (CPSE) under the Ministry of Housing and Urban Affairs, Government of India. The company is engaged in project management consultancy, engineering procurement and construction (EPC), and real estate development. NBCC has executed several landmark government infrastructure, redevelopment and international projects, making it one of India’s leading public sector construction and project management companies.
