Gujarat JHM to expand existing hotel at an investment of Rs.200 Crores

Gujarat JHM Hotels Ltd has announced that the Board of Directors of the Company have given their in principle approval to propose the expansion of existing hotel and also to explore the possibility of setting up Convention Centre, Budget Hotel and Social infrastructure etc. and for this purpose, sign an MOU with designated officers of Government of Gujarat for an estimated investment of Rs 200 crores. All the works will be undertaken subject to the viability of the project after having obtained detailed feasibility report for the new project proposed to be undertaken for which MOU will be signed with Gujarat Urban Development Company Ltd OR Surat Urban Development Authority OR Surat Municipal Corporation as the case may be, on February 16, 2007 at Ahmedabad.

Source : Equity Bulls

Keywords