Clear Water Capital Partners (Cyprus) Limited has taken 49-per cent stake in the SPV company formed by BSeL Infrastructure Realty Ltd. in equal joint venture with Unity Realty and Developers Limited and Kamat Hotels (India) Limited.

With the entry of Clear Water Capital the original 33.3-per cent stake of the three promoters, BSeL Infrastructure, Unity Realty and Kamat Hotels (India) Limited, will be diluted to 17 per cent each in the SPV.

A joint venture between BSeL and Unity has been awarded a 400-room hotel project on build operate transfer (BOT) basisk, which they would construct, operating and maintaining on a hotel with 400 rooms. Kamat Hotels (India) Limited have been inducted in equal Joint Venture for operating of the Hotels.

The Projects is a fast track project to be completed before beginning of Third Commonwealth Youth Games 2008, at Shiv Chhatrapati Sports Complex, Balewadi, Pune.