Russian real estate major offers to invest in Punjab

September 12th, 2012 - 9:22 pm ICT by IANS  

Chandigarh, Sep 12 (IANS) A leading Russian real estate development company has expressed its interest in investing in Punjab’s infrastructure sector, a state government spokesperson said here Wednesday.

“Boris Kiperman and Kirill Klimov of CMI Development, one of Moscow’s premier real-estate developers, spoke with Punjab Deputy Chief Minister Sukhbir Singh Badal today (Wednesday) and offered to invest in the infrastructure sector of the state,” the spokesperson said.

The company officials said they were keen on investing in Punjab owing to the state’s focus on the infrastructure development, according to the spokesperson.

“CMI Development, with a portfolio of $3 billion in private investments, has executed some unique projects in Moscow,” the spokesperson said.

According to Badal, Punjab would invest Rs.100,000 crore in the infrastructure sector and the execution of all the projects would be done by international companies.

He said his main focus was “timely execution of these projects, besides strict control on quality of execution”.

The Punjab government would provide all the support required to international investors, who were keen on investing in the state, Badal said.

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