MAN Industries enter realty business

Mumbai, Jun 13: MAN Industries India Limited, part of the well-diversified UK-based USD 1billion MAN Group and India 's leading manufacturer of large diameter line pipes and coating systems, today announced its plans to diversify into the real estate sector.

The company's subsidiary, MAN Infra projects Limited plans to develop seven project s in Mumbai, Navi Mumbai and Indore with an investment of Rs 1000 crore in the next three years. With a total built-up area of 10 million sq ft., the project s would be worth over Rs 4000 crore, the Company said in a release here. MAN Infraprojets Chairman R C Mansukhani said '' We plan to partner with the best of brands to create outstanding value for our esteemed customers''.

In Phase one MAN Infra project's Limited plans to develop three projects-- two in Mumbai and one in Navi Mumbai with a total built-up area of over one million sq ft.

In Mumbai, the company was planning two commercial projects in Bandra and Vile Parle. In Navi Mumbai, MAN Infraprojects Limited would develop a mixed-use township complete with a five-star hotel, a IT-cum-commercial centre besides a luxury residential block.

UNI