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Our Bureau

Chennai , Dec 21

HOTEL Leelaventure Ltd has concluded the acquisition of land at Chennai and Hyderabad for setting up new hotels.

The Chennai hotel, which is a Rs 300-crore project, will have 300 rooms, a commercial complex and an Information Technology Park on its premises.

As the project is in its proposal stages, the details are still be being worked out. Both the projects will be completed in the first half of 2008. The funding for the project would come from the proceeds of the Foreign Currency Convertible Bonds issue of euro 60 million and internal accruals, company officials said.

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