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THIRUVANANTHAPURAM: THE Muthoot Pappachan group has drawn up a Rs 35-crore investment plan for expansion of its hotel business here.

The programme covers phase-II expansion of "Muthoot Plaza" into a convention centre-cum-business hotel and creation of more facilities at "Taj Green Cove Resort" at Kovalam.

Mr Thomas John Muthoot, Managing Director of the group, said on completion of the expansion project, "Muthoot Plaza", would have a built-up space of 1.5 lakh square feet comprising 103 rooms. The expansion plan for "Taj Green Cove Resort" features 20 floating cottages and a floating Ayurvedic Spa.

The "Muthoot Plaza" is run by Sarovar Hotels and the "Taj Green Cove" by the Taj group. The flagship company of the group is Muthoot Fincorp Ltd., which is engaged in micro-financing and providing of gold loans.

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