Govt MoU with Dutch company to build 50,000 homes

The Karnataka government on Saturday signed a MoU with Netherlands-based Cyan Holding Group, a pre-fabricated housing firm for construction of 50,000 houses for flood affected people in the state.

State Housing Secretary K.V. Kongwad and Representative of Cyan Holding, Bidiadhar Ja Jairam inked the MoU in the presence of Chief Minister B.S. Yeddyurappa.

Mr. Yeddyurappa said, 75 per cent of funding for the project would be borne by the company and the balance by the State government.

Several organisations within the country and some from abroad have come forward to help the state rehabilitate the flood affected, as the government faced an uphill task of relocating 65,000 families, Mr. Yeddyurappa said.