Project investments to the tune of Rs 390 crore
Chennai-based KCP Ltd has announced plans to diversify into the hospitality industry and expand its existing cement and foundry lines of business. The investment in this ...
Rs 390 crore expansion programme will be divided; 30-40 per cent will be funded through internal accruals, while the remaining will be borrowed.
According to VL Dutt, Chairman, KCP Ltd, the company is looking at exploiting real estate and already available resources, through these projects. The company plans to set up an 80 room hotel at Somajiguda, Hyderabad by October 2009. At an investment of Rs 40 crore, it will be a three star plus property. Management contracts with hotel chains will be set up, once construction work is complete.