New Delhi:Real estate firm rahrja Developers has outlined an investment of Rs 5000 crore to set up a 257 acre engineering SEZ at Gurgaon. The SEZ has been notified by the government and the first phase of the project is expected to be completed in the next five years, Raheja Developers Managing Director Navin Raheja said. The project would be developed through a Special Purpose Vehicle and funded through internal accruals, debt and equity. Raheja said the company is planning to list the SPV in the next one year and dilute 26 per cent stake.
Courtesy: HT March 15, 2008
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