REL bags project for tallest bldg in India
Anil Ambani-promoted Reliance Energy led consortium has been awarded a Rs 60 billion worth construction project in Hyderabad, reports Business Standard.
The project is for construction of a trade tower project. It involves erecting a 100-storey building which will also house a business center.
The consortium has received a Letter of Award (LoA) from the Andhra Pradesh Industrial Infrastructure Corporation (APIIC) for this project. A special purpose vehicle (SPV) will be formed by the consortium and APIIC.
This project, involving development of over 77 acres, is likely to be implemented in three phases.
Shares of the company closed up Rs 154.15, or 11.17%, at Rs 1,533.65. The total volume of shares traded at the BSE was 3,007,503. (Tuesday)
