Royal Group of UAE and Netherlands-based GTC Real Estate are in the race to acquire 26% stake in the Delhi-based Raheja group’s engineering SEZ in Gurgaon for Rs 500 crore.
Raheja Developers MD Navin Raheja his company was in talks with some investors to sell equity stake in its SEZ. The 257-acre SEZ project is being valued at Rs 4,500 crore with the land component accounting for almost half of it. The foreign investor will initially take 26% stake in the SEZ for around Rs 500 crore and may later bring in more funds towards construction cost.
Raheja Developers are a privately held firm with a net worth of Rs 1,225 crore. Their engineering SEZ has recently been notified by the government. The total usable area in the SEZ will be 21 million sqft, of which 9.68 million sqft will be used for industrial purpose.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment