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Bangalore, Dec. 14

The city-based Century Building Industries Pvt Ltd has charted out a plan to set up a special economic zone (SEZ) for facilitating the establishment of educational, health and hospitality infrastructure.

The SEZ would also have a foreign investor as partner. The SEZ, planned on an 2,500-acre land, will come up near the proposed Bangalore International Airport, off Devanahalli Road.

Mr P. Dayananda Pai, Managing Director, said apart from the SEZ, Century was currently developing more than five million sq ft for various facilities, which includes townships, malls, commercial and residential complexes in the city, in association with several local builders.

The company envisages an estimated investment of more than Rs 2,000 crore for the projects over two to three years. Century would be mobilising the funds from its internal resources and debt, said Mr Pai.

Mr Pai said in the SEZ, while some of the projects such as the university and hospitality would be set up in association with Manipal Group, for others the company would be tapping investors in different sectors such as IT and garments. He said Century was in talks for FDI in the SEZ. Mr Pai said the Century group was also engaged in developing hotels with a 75-room new three-star hotel planned in the city.

(This article was published in the Business Line print edition dated December 15, 2006)
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