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Wednesday, Nov 16, 2005


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Leela Group plans to invest Rs 500 crore in Kerala

Our Bureau

Kochi , Nov. 15

THE Leela Group has proposed to invest Rs 500 crore in various business ventures in the State over a period of five years.

Of this, Rs 260 crore will be invested in developing IT infrastructure, Mr Venu Krishnan, Executive Director of the Leela Group, told reporters. The company will spend Rs 170 crore for the renovation of the hotel it has bought in Kovalam recently and Rs 50 crore is earmarked for the development of an apparel unit in Thiruvananthapuram, he said.

The group is also looking for two more hotel projects in Kochi and in Kumarakom as part of its initiative in developing hotel projects. The plan is to set up a business hotel in Kochi, he said.

Mr Krishnan, who was here in connection with the opening of a BPO centre at Leela Info Park in Kochi, said that the group is planning to construct two buildings of 3.5-lakh sq ft area at Info Park in Kochi.

Another 4-lakh sq ft will be set up in Technopark in Thiruvananthapuram. The target is to construct over 7-lakh sq ft as part of developing IT infrastructure in the State, he said.

The land for the development of the IT park in Kochi will come to around 6.7 acres. The construction of one of the buildings will commence soon and will be completed within 15 months.

Kochi is going to be one of the important centres in India for IT and IT- enabled services, he said adding that the Group has already set up a building in the park in which the US-based Outsource Partners International occupies 1,37,000-sq ft space.

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Leela Group plans to invest Rs 500 crore in Kerala

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