HCC to invest Rs 40,000cr to develop 12,500 acres Lavasa township

New Delhi, Jan 21 (UNI) Hindustan Construction Company (HCC) today announced that the company will invest Rs 40,000 crore over the next 15 years to build 12,500 acres Lavasa township near Pune, Maharashtra.

''We have already spent Rs 1000 crore to build the initial infrastructure in Lavasa, which is a very large project. When you take its total revenue, it amounts to about Rs 1,47,000 crore over the next 10-15 years,'' Chairman of Lavasa Corporation Ajit Gulabchand told UNI.

''We will also look to develop more townships in the metropolitan region of Mumbai, like Pune, Nashik,'' he added.

The first phase of the project will be completed by 2010 with an investment of around Rs 5,000 crore, which will offer apartment, villas and bunglows in the price range of Rs 10 lakh to Rs 1.2 crore.

UNI BJR KD VP1238