OM Metals receives letter of intent for Mumbai slum rehabilitation project in Bandra
14 January 2008
OM Metals Infraprojects Ltd says that its sister firm's consortium, Om Metals Consortium, has secured LOI for an estimated Rs600 crore slum rehabilitation project in Bandra Reclamation, in Mumbai. The company has 35 per cent equity stake in the consortium.
The company expects the work on the project to commence in the next three - four months, and will be completed over three years.
OM Metals has business interests in hydro mechanical engineering, real estate and infrastructure projects. The company says that is in the process of executing large size real estate projects, and has more than 5 million sq. ft of land under development.