REL bags Rs6,000 cr AP govt contract

REL bags Rs6,000 cr AP govt contract
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First Published: Tue, Oct 09 2007. 06 32 PM IST
Updated: Tue, Oct 09 2007. 06 32 PM IST
PTI
New Delhi: A consortium led by Anil Dhirubhai Ambani group firm Reliance Energy has secured a Rs6,000-crore project from Andhra Pradesh government for development of a 100-storey trade tower and business district.
The consortium received a Letter of Award from Andhra Pradesh Industrial Infrastructure Corporation for the project, which involves development of over 77 acres of land, sources said.
“The trade tower would be the tallest building in India,” a source said.
Scope of the work involves design, development, funding, construction, marketing, operation and maintenance of the project, for which a special purpose vehicle would be formed by the consortium and APIIC.
The project would be completed in three phases. The trade tower on over 4 million sq. ft area would be set up in the first phase.
The second module would comprise developing the business district on 30 acres of land in seven years.
Development of phase II of the business district on the remaining 16.28 acres would form part of the third module, the sources said.
Shares of the company were trading 11.24% up at Rs1,537 each.
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First Published: Tue, Oct 09 2007. 06 32 PM IST