BSEL Infrastructure signs MOU with IRDA, Malaysia

BSEL Infrastructure Realty Ltd has announced that the Company has signed an MOU with Federal Government’s Statutory body Iskandar Regional Development Authority (IRDA) wherein BSEL has committed to make investment in Iskandar Malaysia to the tune of RM 15,000,000,000 (Malaysian Ringgit Fifteen Billion) (equivalent to Rupees 18000 Crores) over a period of twelve years. BSEL has collaborated with IRDA to develop Iskandar Malaysia, designed to be Southern Peninsular Malaysia’s most developed region. IRDA will help BSEL seek approvals and permissions from various authorities for facilitating its development process.

About the Project:

BSEL has development plan of 70 million sqft will be developed in three phases with 10 million sq ft in the first phase and doubling in every subsequent phase. Out of the total 5 economic zones to be developed in Iskandar Malaysia, BSEL has pledged to invest in the two zones, Financial District and Nusajaya.