HCC'S RS 30,000-CR TOWNSHIP MAY SETTLE IN NANOLAND

As Ratan Tata cements the foundation of his small car Nano project at Sanand, his dream project is serving as an anchor to draw big-ticket investments to the region hitherto unknown to India Inc, reports Shramana Ganguly Mehta. Mumbai-based infrastructure giant Hindustan Construction Company (HCC) is learnt to be keen to set up a high-end township project near Sanand at the cost of around Rs 30,000 crore. ET has learnt that HCC, which gave the country the first-of-its kind economically self-sufficient township project "Lavasa" near Pune at the cost of Rs 40,000 crore, is keen to bring the concept of New Urbanism to Gujarat. Developing the proposed township not just for residential purpose, HCC proposes to establish the town as an academic and recreational hub for the residents and is likely to sign a MoU during the forthcoming Vibrant Gujarat Summit. HCC officials are tight-lipped about the project whose details would be mde public on January 12 when the company signs an MoU with the Gujarat government during the Vibrant Gujarat Global Investors' Summit 2009. Without divulging details, chief principal advisor to industries department RJ Shah told ET that HCC has proposed several projects to the state.

Courtesy:- ET dtd:- 7th Jan 2009