Thursday, May 28, 2009

The Nevert Tiring Tata co plans infrastructure, real estate project worth Rs 20k cr

Tata Realty and Infrastructure Ltd (TRIL) on Wednesday announced plans to 

develop real estate and infrastructure projects, worth Rs 
20,000 crore, over the next 
three years. 

In Mumbai, it is set to bid for the second phase of the 36-km Metro rail - Charkop to Mankhurd via Bandra - in partnership with Mitsubishi, the monorail project as well as the proposed Navi Mumbai airport, said TRIL managing director and CEO Sanjay Ubale. 

Ubale said at a news meet that TRIL would also submit bids for the Navi Mumbai railway redevelopment project, the trans-harbour link between Sewri and Nhava and invest Rs 11,000 crore in real estate, including SEZs and mixed development plans across the country. Other investments will include Rs 5,000-crore on roads and Rs 4,000 crore on other infrastructure projects. 

The infrastructure company also plans to redevelop bus terminals in tier-2 cities and set up warehousing facilities across the country. On the real estate front, TRIL is currently developing a state-of-the-art 25-acre IT/ITES SEZ in Chennai. The project, costing about Rs 3,800 crore, will also house an international convention centre, the first of its kind in that city. 

Two other IT SEZs are coming up in Ahmedabad and Hinjewadi in Pune. In Amritsar, the firm has started developing a 7 lakh sq-ft retail complex. In Gurgaon, it is evaluating a residential and mixed used development on a 35- acre plot for the middle income group. 

Ubale said land parcels of Tata group companies in and around Mumbai would be unlocked for development purposes.

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