Salarpuria Group eyes hotel industry, IT SEZ

March 26th, 2008 - 9:44 pm ICT by admin  

Kolkata, March 26 (IANS) Real estate major Salarpuria Group is all set to invest billions in West Bengal with projects ranging from hotels and residential complexes to IT special economic zones (SEZs), a top company official said here Wednesday. Some of the key projects on the anvil for the group include a 350-room four-star hotel at the upcoming township of Rajarhat here and also investments in two IT special economic zones (SEZs).

“We have planned to develop this (hotel) project within two and a half years from now. The project would be developed over 3.5 acres of land with an investment of more than Rs.2 billion ($50 million),” Salarpuria Group vice chairman Rakesh Salarpuria told IANS.

He said the company has already bought the land from the West Bengal Housing Infrastructure Development Corporation (HIDCO) Ltd and is now awaiting approval to begin construction.

“This apart, the group is also working out on a project to build a 50-room hotel along with a spa and 200 residential duplex bungalow at Thakurpukur on the city’s outskirts. There will be an investment of around Rs.1 billion for the project and it would be implemented in two phases, with Rs.500 million of investment in each phase,” Salarpuria said.

The company will also come up with two IT Special Economic Zone (SEZ) at Kalyani and Bantala in West Bengal.

“We have already identified 250 acres and 40 acres of land for both the SEZ projects at Kalyani and Bantala respectively. To develop the Bantala unit there would be a projected investment of Rs.4 billion,” he said, adding that the investment for Kalyani IT SEZ project has not been finalised yet.

“Both the projects have got green signals from the union cabinet,” Salarpuria said.

Kolkata-headquartered Salarpuria Group has been into the real estate business since mid 1980s. The group has a pan-India presence with ventures in Chennai, Pune, Hyderabad, Kolkata and Delhi.

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