A consortium formed by Reliance Industries, real estate investor Landmark Holdings (part of Dalmia Group), Berggruen Holdings India, a subsidiary of New York-based company and Punjab-based Yellow Stone are expected to infuse over Rs 950 crore in an IT township in Punjab at SAS Nagar.
Apart from the $13 million FDI invested by the foreign company both RIL and Land Mark Holdings share major portion of the financial stake in the project proposed to come up on 200 acres.
The project coming with within 10 km radius from upcoming International Airport at Chandigarh is supposed to create 60% area for IT companies, 30% for housing and 10% for commercial operations.
?This is company?s first investment in Punjab,? Gaurav Dalmia, chairman, Landmark Holdings told FE. ?This is the first investment of the company in Punjab,? he said while refusing to reveal the investment figures.
Sources told FE that land acquisition for the project is in the final stages and the project will take shape shortly. The project coming up in SAS Nagar would be double the size of first SEZ being completed by Quark city in the district.
Apart from the inetrantional airport coming up partly on the arera of SAS Nagar, the newly formed district has baggged proposed investment of over Rs 20,000 crore investment in housing and commercial projects. Three other companies namely Advance India , JDU Builders Limited, Globus Projects & Infrastructures are also pursing IT park projects in the district.