The Hindu : Business : REL consortium bags Hyderabad tower project

Online edition of India's National Newspaper
Wednesday, Oct 10, 2007
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Business

REL consortium bags Hyderabad tower project

Special Correspondent

The 100-storey building will come up on four million sq. ft.

To be completed in three phases
Special Purpose Vehicle to be formed

NEW DELHI: A consortium led by Anil Dhirubhai Ambani owned Reliance Energy Limited (REL) has bagged the Rs. 6,000 crore trade tower project in Hyderabad entailing construction of the tallest building in the country.

The project, awarded by the Andhra Pradesh Government, will involve development of a 100-storey building that will also have a business centre. According to company officials here, the consortium received a Letter of Award (LoA) from the Andhra Pradesh Industrial Infrastructure Corporation for the project, which involves development of over 77 acres.

The scope of the work involves design, development, funding, construction, marketing, operation and maintenance of the project, for which a special purpose vehicle (SPV) will be formed by the consortium and APIIC. The project would be completed in three phases. The trade tower on over four million sq. ft. would be set up in the first phase. The second module would comprise developing the business district on 30 acres in seven years. The development of phase II of the business district on the remaining 16.28 acres would form part of the third module, the sources said.

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