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Ruchi Realty Plans Rs 200 Crore IT Special Economic Zone (SEZ) On 5.5 Acres In Bantala


By Shashank, Section Real Estate
Posted on Wed Jun 11, 2008 at 03:20:26 AM EST

Ruchi Realty Holdings Ltd, part of the $4-billion Ruchi Group conglomerate, is planning to build an IT special economic zone (SEZ) on 5.5 acres in the Bantala Leather Complex. Ruchi will invest around Rs 200 crore and the project is scheduled to be over in two years.

Shivam Asthana, vice-president of Ruchi Realty, said many IT Companies are interested in the SEZ project. "We see no dearth in demand," he said.

Ruchi Realty has attracted around Rs 200 crore from a US-based private equity firm, Sun Apollo. The money will be utilised in building the SEZ project, said Asthana.

Besides the US private equity investment, promoters of Ruchi Group of Industries, and loan from financial institutions have contributed another Rs 200 crore.

Ruchi also announced its first housing project on 16.5 acres off EM Bypass in Kolkata with a total investment of Rs 450 crore.

The project, Active Acres, will have a built-up area of 2 million square feet.

Source: www.financialexpress.com Jun-11-2008

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