Patel Engineering will invest Rs 2205 crore in Bangalore project
Patel Engineering Ltd has planned to invest Rs 2,025 crore in development work and in integrated township project in Bangalore.
The entire proposed project will be coming up in Electronics City in Bangalore. On the Global Investors Meet (GIM) in Bangalore, the company signed a memorandum of understanding (MoU) with the government of Karnataka that will facilitate the grant of permissions, registrations, approvals and clearances from public departments for the development.
The project will be completed in seven years. The construction on the first 103 acres of the township, Neotown-Bengaluru South, started about two years ago.
The project has residential space along with a large shopping mall, office space including an information technology (IT) park, a hospital and a school.
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Source: Livemint
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