Chennai: The Bangalore headquartered Phoenix Group Global announced it would develop multi-crore Zuri Hotels and Resorts in that city and Chennai in about another 24 months.
“We are in the process of acquiring land for constructing a hotel on the Rajiv Gandhi Salai (IT Corridor in Chennai) where the work is expected to start by the year-end or beginning of the year and complete the project in 18 months,” Priti Chand,Director, PR and Communication said.
“A sum of Rs200 crore would be invested on this project,” she said.
“Two projects in Bangalore — at Whitefield and Devanahalli — were also coming up at a cost of Rs200 crore each and expected to be completed by 2010,” she said adding the company aimed to expand to other cities like Ahmedabad and Kochi.
“Phoenix Group was also looking forward to set up a 150-acre floriculture business on the Tamil Nadu-Karnataka border at an investment of Rs20 crore, and an annual production of Rs60 million,” she said.