INDIA BUSINESS WORLD - JUNE 1st - JUNE 30th - 2008
KAMANWALA PICKS UP 10% IN NOIDA IT PARK FOR RS 25 CRORE
Mumbai-based Kamanwala Housing Construction (KHCL), a listed entity, has said that it has picked up 10% stake in an upcoming IT park in Noida for Rs 25 crore. The project is coming up on 25 acres," said KHCL vice- chairman and managing director M L Gupta. Gupta said there are four other parties involved with the Rs 300 crore project, while the land belongs to Diamond Exports, a Noidabased apparel export house. Parties involved with the project have formed a Special Purpose Vehicle (SPV) for the project, he said. Construction work for the project, he said, would start in the next six to eight months while the entire project would be completed in three years. KHCL has already announced its plan to set up an IT park in Hyderabad.
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