Shriram ties up Rs5,000 crore funds for Uttarpara township

19 Sep 2007

1

Mumbai: Shriram Properties Ltd has tied up funds with Walton Street Capital and Starwood Capital Group for financing a Rs5,000 crore township on Hindustan Motors Uttarpara property.

Hindustan Motors signed a memorandum of understanding with Shriram Properties for development on 314 acre excess land at Uttarpara in Hooghly district, about 12 km from Kolkata.

A project would involve development of 20 million square feet of residential, retail, office and civic space, Shriram Properties said in a statement.

Hindustan Motors would hold a minority stake in the venture.

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