HSV to invest Rs 1,900 cr for ski resort in HP

Updated: May 29 2007, 05:32am hrs
Tourist spots developer Himalayan Ski Village plans to invest about Rs 1,900 crore to set up ski resort in Kullu valley in Himachal Pradesh and has submitted a proposal in this regard to the state government."We have submitted our proposal to the state government and expect the mandatory regulatory approval to come in the next six months," HSV managing director John Sims said.

HSV plans to invest euro 350 million (about Rs 1,900 crore) for developing the resort over the next 5-6 years. Of this, up to Rs 700 crore is expected to be invested this fiscal alone to make the resort operational between November 2008 and February 2009. "We expect the core ski resort to be operational by 2008-09, for which we will invest about euro 130 million," Sims said. HVS, raised the required money for the project. It would develop the resort in an area of 100 acres with a capacity to train about 10,000 learners.

It would hire 3,500 people to run the proposed villa, and 300 trainers for giving lessons on skiing and related activities.