VBC Finance & Leasing to invest in Trident Hilton - Hyderabad

VBC Finance & Leasing Ltd has announced that the Board of Directors of the Company has approved its participation in a Joint venture / Special Purpose Vehicle Company for implementing a Five Star Deluxe Hotel project at Shilpakalavedika, Madhapur, Hyderabad, Andhra Pradesh in consortium with My Home Group and EIH Ltd. The said project would be implemented by a JV / SPV namely M/s. Golden Jubliee Estates Ltd. It is a Private Public Participation (PPP) project awarded by Youth Advancement, Tourism and Culture (PMU) Department, Government of Andhra Pradesh on BOT basis.

The total cost of the project is estimated at Rs 4,500 million and is to be financed in the debt & equity ratio of 1.40 : 1.00.

Further the Company has informed that, the Board also approved the terms of agreements including the ´Shareholders Agreement´ to this effect with My Home Group and EIH Ltd. The said hotel will be branded as "Trident Hilton-Hyderabad."

Source : Equity Bulls

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