Housing and construction firm DS Kulkarni Developers (DSKDL) has entered into an agreement with Kardan Group firm, GTC Cyprus, for jointly developing a multi-service SEZ project in Pune. "DSKDL and GTC shall jointly develop a 250 acres multi-service SEZ project in Pune through a 50:50 JV," the Pune-based firm said in a filing to the Bombay Stock Exchange. GTC Cyprus would infuse about $90 million (about Rs 388 crore) against its stake in the JV in a phased manner, the filing said. "Any further equity contribution shall be made by DSKDL and GTC in their respective shareholding proportion," it added.
Courtesy: - ET dtd: - July 5, 2008
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