Shapoorji Pallonji group offers to invest Rs 20,000 crore in Hyderabad
The offer came at a meeting of its chairman Shapoor P Mistry with the chief minister
Apr 18, 2015
Source : The Times of India
Shapoor P Mistry

 

HYDERABAD: Chief minister K Chandrasekhar Rao's plans for a state-of-the-art Secretariat complex has received a shot in the arm on Thursday with real estate major Shapoorji Pallonji Group offering to build it. 
 
The company also expressed its willingness to construct the mega cultural hub, Telangana Kala Bharathi and a better road network for the city. In all, the company offered to invest Rs 20,000 crore in various projects in Hyderabad. The offer came at a meeting of its chairman Shapoor P Mistry with the chief minister here on Thursday. 
 
Telangana government and the company's representatives will meet soon to discuss the terms and conditions of the firm's involvement in the government's plans to revamp the city. 
 
Chandrasekhar Rao explained to the company delegation about the projects his government has planned for Hyderabad, including the construction of Telangana Kala Bharati complex. He told them that the projects conceived so far would need about Rs 20,000 crore and these include improving the road network, construction of grade separators, flyovers, an integrated Secretariat complex and an ultra-modern police control room. 
 
Mistry expressed interest in investing in Telangana and that his company was looking forward to partner the state in infrastructure creation, a release from the chief minister's office said. 
 
Details of what the company would receive in return are likely to be discussed and decided during a round of meetings between government and the firm's officials soon. 
 
Shapoorji Pallonji Company Limited is a Mumbai-based firm that has business interests in real estate, shipping and power and is also the largest single individual stake holders in Tata Sons. The company, in addition to being considered as one of the more valuable firms in the country, is also known as the firm that was part of the renovation and repairs of the Taj Mahal Palace hotel in Mumabi after the 2008 terror attacks. It also constructed the Bombay Stock Exchange building, offices for major international banks and the Reserve Bank of India as well as the Jumeriah Lake towers in Dubai.

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