Parsvnath Developers Ltd of New Delhi has received the letter of acceptance from Buddha Smriti Udhyaan Development Company Ltd to develop the Buddha Smriti Udhyaan at Patna in Bihar. The Rs 125-crore contract involves construction of the iconic site on a plot spread over 20.65 acres with developable area of 2.9 lakh sq. ft. The contract is scheduled to complete within nine months.
BSUDCL is a public-private partnership between the Bihar government and India PPP Capacity Building Trust (I-Cap), which is a trust formed under the Indian Trusts Act, and for which Infrastructure Development Finance Company is currently the sole contributor.