MTNL updates on Development of Core Knowledge Park (CKP), at NOIDA

With reference to the earlier announcement dated June 04, 2007 regarding the development of Core Knowledge Park (CKP) at NOIDA, Mahanagar Telephone Nigam Ltd (MTNL) has announced that the Company and Consortium of IDEB-SUCG Knowledge Park Pvt Ltd have joined hands for joint development of the Company's plot situated at B-3, Institutional Area, Sector-62, Phase-II, Noida (U.P) measuring approx. 19.76 acres, for training center named as Core Knowledge Park within the terms of lease of the land. An agreement to this effect has been signed on August 07, 2007.

It is intended to use the latest construction technology including giving Green House Effect, Energy Efficient Building, adequate parking facility and having all latest facility including LAN, Integrated Management System (IMS) for the various services.

This is the first time since the Company's inception in 1986 that it has entered into such type of arrangement for construction on joint development basis.

The stock closed the day at Rs.145.95, up by Rs.3.45 or 2.42%. The stock hit an intraday high of Rs.147.10 and low of Rs.143.50. The total traded quantity was 272792 compared to 2 week average of 354797.

Source : Equity Bulls

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