Business Daily from THE HINDU group of publications
Wednesday, Nov 21, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Wednesday, Nov 21, 2007 ePaper | Mobile/PDA Version |
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Alliances & Joint Ventures Variety - Entertainment & Leisure Bhagyanagar, IL&FS partner for new venture Our Bureau Hyderabad, Nov. 20 Bhagyanagar India Ltd has formed a special purpose vehicle (SPV), Bhagyanagar Entertainment Infrastructure Development Company Ltd, by partnering with IL&FS Infrastructure Development Corporation. This 50:50 venture with IL&FS Infrastructure Development Corporation will focus on theme parks, special economic zones and industrial parks, according to Mr Narender Surana, Managing Director of Bhagyanagar India Ltd. Mr Surana told Business Line that this entertainment SPV will be chaired by Mr GM Surana and Ms Rachana Gupta has been appointed as its Chief Executive. Providing details of the venture, Mr Surana said that two projects have been identified and are ready for execution. While one is a Mini-India Theme Park, the other is the Arogya Dham project which seeks to offer traditional healthcare methods in the Health City coming up near Vizag. The Mini-India Theme Park, jointly developed by Bhagayanagar and IL&FS, will be spread over a 30 acre site and will require an investment of nearly Rs 110 crore. “As a part of new projects, we have applied for more clearances for infrastructure projects in the State, which would include industrial parks and special economic zones,” Mr Surana said. More Stories on : Alliances & Joint Ventures | Entertainment & Leisure | Real Estate & Construction
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