Anils Reliance touches new construction at Hyderabad
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Indian business tycoon Anil Dhirubhai Ambani Group is making its next moves with some vertical construction at the Charminar city Hyderabad. According to the sources of www.propertykhazana.com the construction arm of the group Reliance infrastructure Ltd has cited their plans to build a commercial tower of 100 storied along with a business district project on the outer edge of the city. The project is estimated to cost around Rs. 4000 crores for the first phase of construction. The entire cost of the project might rise to Rs 8000 crores which will be continuing till three to five years of time.
On a short note with the higher officials of the construction arm has revealed that the company has an intention of completing the entire project at one continuous shot but the fund raising will be done with two to three phases from various sources. Source of www.propertykhazana.com also reveals that Reliance Infrastructure is the biggest share holder for this Hyderabad project which was won by the company last winter. Other partners to this project include the Bangalore based Sobha Development realty group as technical partner and other is the Andhra Pradesh industries Development Corporation with a share of 23 percent and 11 percent respectively.
As per the sources of www.propertykhazana.com it is the first realty venture of the Reliance construction arm where as the second is a mixed – use development for the National Capital Region. Here the company has won the bid to construct a metro lane connecting Delhi Railway station to the Delhi International airport.
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