Sun Group to Invest Rs 550 cr in Punjab

Hyderabad, India (PressExposure) June 01, 2008 -- UK-based Sun Group has firmed up plans to invest Rs 550 crore in the real estate sector in Punjab.

"Initially, the company would set up multi-facility project which will involve setting up of hotels, multiplexes and malls in the Mohali district," said a senior official of Punjab Industries Department.

A high level delegation from the company led by its Chairman Nand Khemka today met representatives of Punjab government and discussed their business plans with them, said an official release issued here today.

The regional consultant of the Sun Group, Dilbagh Singh Mangat, assured the Punjab Chief Minister that the group was happy with the investor friendly climate in the state.

He said that the group plans to replicate the Mohali venture in other parts of the state like Jalandhar, Amritsar, Ludhiana, Patiala and Bathinda.

It may be recalled that the sun group had already invested heavily in the revival of Punjab Wireless Systems (Punwire) for production of defence electronics and civil telecom items.

The Chief Executive Officer of Doha-based Barwa International Group, Ghassan al Binali, who accompanied the Sun Group delegation, made a proposal for a significant foreign direct investment in various sectors, especially power...

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Press Release Submitted On: May 28, 2008 at 4:09 am
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