Construction firm plans engineering SEZ
26 Dec 2006
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Mumbai: Mumbai-based construction company Atlanta Ltd (formerly Atlanta Construction Co. (I) Ltd) will set up an engineering SEZ in Gujarat along with Ahmedabad's NG Realty Pvt. Ltd, in which it proposes to acquire a 50-per cent stake for around Rs90 crore.
The company expects final government approvals after January. It says that it would decide on the funding structure of the project, which is expected to be operational within two years.
According to its website, Atlanta's core strengths are in constructions, highways, runways, mining, realty and infrastructure concessions.
According to Raju Barot, the company would have the first right of refusal for all construction contracts in the SEZ project. The SEZ, for which NG has secured initial approvals and acquired 230 hectares of land, would involve total investment of Rs1,000 crorehe said.
At the moment Atlanta is focussing on toll-road projects across the country, and plans to bid for around a dozen more projects in the next few months.
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