Century Building plans to set up SEZ

Our Bureau

Bangalore , Dec. 14

The city-based Century Building Industries Pvt Ltd has charted out a
plan to set up a special economic zone (SEZ) for facilitating the
establishment of educational, health and hospitality infrastructure.

The SEZ would also have a foreign investor as partner. The SEZ, planned
on an 2,500-acre land, will come up near the proposed Bangalore
International Airport, off Devanahalli Road.

Mr P. Dayananda Pai, Managing Director, said apart from the SEZ, Century
was currently developing more than five million sq ft for various
facilities, which includes townships, malls, commercial and residential
complexes in the city, in association with several local builders.

The company envisages an estimated investment of more than Rs 2,000
crore for the projects over two to three years. Century would be
mobilising the funds from its internal resources and debt, said Mr Pai.

Mr Pai said in the SEZ, while some of the projects such as the
university and hospitality would be set up in association with Manipal
Group, for others the company would be tapping investors in different
sectors such as IT and garments. He said Century was in talks for FDI in
the SEZ. Mr Pai said the Century group was also engaged in developing
hotels with a 75-room new three-star hotel planned in the city.
http://www.thehindubusinessline.com/2006/12/15/stories/2006121502662100.htm