BSEL Infrastructure updates on JV with Unity Infraprojects

BSEL Infrastructure Realty Ltd has announced that the Board of Directors of the Company at its meeting held on January 04, 2007, has taken the following on record:

The Company has been awarded in 50:50 Joint Venture with Unity Infraprojects Ltd a project for constructing, operating and maintaining a hotel on a Build Operate Transfer basis at Shivchhatrapati Sports Complex, Balewadi, Pune. The Project has been awarded to the Joint Venture by the Executive Committee of the 3rd Commonwealth Youth Games 2008 & Director, Sports & Youth Services, Maharashtra State. The details of the Project are as follows:

1. The Land allotted to the Joint Venture is 6 Acres at the bid amount of Rs 156 Crores.

2. The Concession Period is 60 years.

3. The project involves development of a 400 room hotel and its ancillary facilities.

4. The Project is expected to commence in the month of January 2007 and to be completed within a period of 16 months.

Source : Equity Bulls

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