BUSINESS

Merlin Group plans to invest Rs. 2,000 crore in real estate

Special Correspondent

KOLKATA: The Kolkata-based real estate developer, Merlin Group, on Monday announced its intention to invest Rs. 2,000 crore in the State, as part of its plans of morphing into an infrastructure developer.

Stating this at a press conference, Managing Director, Sushil Mohta, said the company’s first initiative would be to promote a Rs. 400 crore project in South Kolkata through a public-private partnership mode with the government-owned Kolkata Metro- politan Development Authority (KMDA).

He said the Rs. 2,000 crore investment would be made by 2010, in creating industrial infrastructure, commercial and housing projects, through two joint venture companies.

He said the Merlin group along with its partners KMDA, the West Bengal Housing Board, the West Bengal Small Industries Development Corporation and other private sector real estate companies was gearing up to re-create the South Kolkata region as the next central business district.

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