The Hindu Business Line : Cosmos Builders seeks Rs 15 cr from PNB for mall project

COSMOS Builders and Promoters Ltd, a part of the Rs 450-crore Mittal Group, today said it has approached Punjab National Bank for a Rs 15 crore loan, to part fund its mega mall project in Panipat.

"The total investment for the Panipat project is pegged at about Rs 40 crore. We have applied for a loan of Rs 15 crore to PNB and the rest will come from internal accruals and advanced bookings," Mr Vinod Mittal, Managing Director of Cosmos Builders and Promoters Ltd said here.

The proposed mall comprises 1.75 lakh square feet of shopping, entertainment, food court, restaurants and three-screen multiplex in Panipat.

He said that the mall would be up and running in about 18 months.

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