HCC to invest Rs41,500 crore in Gujarat luxury township
13 January 2009
Ajit Gulbchand's Hindustan Construction Company (HCC) has signed two agreements with the Gujarat government to develop a waterfront city at Dholera and a water pipeline projects at a total investment of Rs 41,500 crore.
The waterfront city project will be spread over 4000 acres at the Dholera Special Investment Region (SIR) on the lines of Lavasa, India's first and largest man made Hill City being built by HCC near Pune, at a cost of Rs.40,000 crore.
Dholera, on the Delhi-Mumbai Industrial Corridor (DMIC), is located at the Gulf of Cambay about 129km from Ahmedabad.
The water pipeline projects are with Narmada water resources, water supply and Kalpasar department to develop three water pipeline worth Rs1,500 crore.
The three water pipelines project envisages inter basin transfer of water from N M C to various reservoirs such as the reservoirs based inter basin transfer of water, to Dharoi reservoir in Mehsana district, Sipu and Dantiwada reservoir in Banaskantha district.
''The concept of new urbanism is gaining momentum globally and we are happy to initiate this modern and sustainable WaterFront City in Gujarat, based on this model," said Ajit Gulabchand, chairman and managing director, HCC. "We are confident of replicating our successful Lavasa business model which has already established a large network of business partners. The innovative nature of this project is matched only by the Gujarat government's keen interest to develop world-class infrastructure in the state."