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Our Bureau

Bangalore , April 14

METCORP, a consortium of NRIs along with Jurong (India) Consultants has announced a mega township project to be developed on 136 acres near the proposed Bangalore International Airport at Devanahalli.

The project benchmarked on international standards of an integrated township would have apart from a residential complex, a country club, a golf course, a multi-cuisine restaurant and sports facilities.

"This would be one of India's biggest designer township projects and the first to have a tropical villa setting," said Mr Deepak K., CEO of Metcorp.

Addressing a press conference here on Wednesday, Mr Deepak said the land has been acquired and the work on the project, `Nirvana', is expected to start this year, after all local clearances are obtained.

Mr Deepak also informed that Metcorp was also planning to launch two other projects in association with NRIs and investment bankers from Europe and the US. It planned to invest $2 billion in two other premium residential-cum-commercial infrastructure projects to be developed in Bangalore and Chennai. The consortium also plans to invest in start-ups in IT and biotechnology enterprises for which $300 million would be earmarked from the total amount of $2 billion, Mr Deepak said.

Giving details about the first project, Mr Deepak said Jurong (India) would provide the technical support through its services as master planners, architects and engineers for the `Nirvana' project. Jurong, which is the subsidiary of Jurong International of Singapore, would also carry out the construction and provide the facility management service.

The project expected to be completed in 30 months after all the local clearances are obtained in the next few months, would be marketed to NRIs and domestic customers. Mr Deepak said already 30 per cent of the project has been underwritten by the NRIs.

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