The country's largest real estate player, DLF, has announced a fully-privately financed metro rail project for its townships in Gurgaon with a project cost of Rs 900 crore. "The government of Haryana has awarded the construction of the metro system in Gurgaon. A consortium of DLF and IL&FS has bagged the contract. The process to form a special purpose vehicle is on to construct and operate the system," DLF said. The project called 'DLF MetroRail, Gurgaon' has been bagged on concession by the consortium for a period of 99 years to build and operate the metro sytem, it added. The consortium, where DLF would have a 26% stake while IL&FS would hold the rest, would invest invest Rs 900 crore in developing the project. According to a DLF spokesperson, the Special Purpose Vehicle (SPV) would raise Rs 700 crore within the next 6 months. The mode of raising would, however, be decided in due course of time.
Every time an offender stealthily leaves India to take refuge in another country, the Government of India starts all over again with its strategy of bringing him back to the nation to make him stan More
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