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UEDI takes on the Chennai Metro

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It is reported by the source at the www.propertykhazana.com that UE Development India Ltd. is geared to propose for Rs. 15,000 Crores Chennai Metro Rail venture and is also discussing with different realty developers to extend its construction business. UEDI, is a part of Malaysia based UEM Group has already taken part in the bid for the metro rail venture. UEDI Country Manager said to www.propertykhazana.com that, “We took part in the first conference organized by Chennai authorities for all possible bidders; we are presently studying the profile, portfolio and related papers. Also we are gazing at the option of creating a JV for the venture. The next bidding for the metro ventures is listed in May and the company might bid for the venture along with a JV associate”, he added.
A detailed project report (DPR) for the Chennai Metro Rail Project has been planned by the Delhi Metro Rail Corp Ltd. and DPR externalize the formation of two initial corridors under the planned Chennai Metro Rail Project by adding 45 kms. The anticipated cost of this venture is roughly Rs. 15,000 Crores, comprising escalation, central taxes and interest during the time of construction. According to the sources available with www.propertykhazana.com, UEDI is having Rs. 200 Crores contract for Ansal API’s ‘Sushant City’ in Lucknow for setting up infrastructure in the venture and is also bumping off a 127 km road construction venture in Kerala for the state transport authority. For more updates on real estate market browse www.propertykhazana.com.
Source: NBTVLIVE

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