Indian Real Estate: EIG Invests Rs. 10,000-Crore in India
A leading corporate group with business interests in telecom, IT, bio-tech and infrastructure, Europe Israel Group (EIG) of Israel plans to invest Rs. 10,000-crore (Rs. 100-billion) in India, most of it in West Bengal. A company delegation led by Mr. Zisser, the group chairman met West Bengal’s Chief Minister to submit investment proposals that include a state-of-the-art medical equipment plant, a bio-tech park and a showcase infrastructure project.
Indrajit De, local partner and promoter of Laxmi Realtors Ltd. said EIG impressed by the quality and availability of human resources in West Bengal had evinced a keenness for business investments in the state. An NRI, De, the man instrumental in bringing EIG to West Bengal announced the detailed road map for the Rs. 10,000-crore investment would be finalised and ready for media publication within the next 2 to 3-months. Starting with the medical equipment plant in the first phase of their venture, the bio-technology park would be part of the second phase. Already, 100-acres of real estate have been acquired by EIG the park.
The Israeli group has also expressed an interest in exploring IT and telecom opportunities in Bangalore, while their proposed infrastructure project, not exactly a real estate project would consist of a signature undertaking such as a convention centre. It is to be noted that both EIG and the Laxmi group took part in the bidding for the Rs. 2,500-crore (Rs. 25-billion) project at Rajarhat, the new township coming up in Eastern Kolkata.
As large scale investments pour into India, the Indian real estate market continues to retain its increasing buoyancy, getting costlier by the day. At the end of it all, for NRIs and others looking for investment deals in India, real estate development projects are the safest and best investment options, both short and long-term!
This article is sponsored by: www.indiarealestateblog.com
About the Author
We are in real estate business also and wants to provide information about India Real Estate.
Tell others about
this page:
Comments? Questions? Email Here