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Gulf Oil Corp mulls IT park in Hyderabad
Posted by Pradeep Sadanapalli | July 28, 2006 | 343 views
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Loading ...Gulf Oil Corporation, a Hinduja group company is planning to set up either a biotechnology or an IT park in Hyderabad, entailing an investment of around Rs 500 crore.
CNBC-TV18 has learnt that construction for the IT park would begin by 2006 end. The total development area is likely to be 800 acres. 50% of the area has been acquired in the last 30-40 years and 50% of the area is leased.
Further, the project is expected to be completed in 2-3 years time. It will be financed through a mix of GDR and other financial issues. The park will be either sold outright or leased. Cushman & Wakefield are the consultants for the project.
CNBC-TV18 DISCLAIMER: This information has not been provided to the stock exchanges, and is source-based.
Source:
www.moneycontrol.com
Topics: SEZ, Business News |
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