[babji]

100+ Floor Trade Tower is getting ready for a countdown: Sep 2007 + 3 years!
http://www.deccan.com/home/homedetai...storey%20tower

Anil on top of 100-storey tower
Hyderabad, July 6: Anil Ambani’s Reliance Energy has bagged the 100-storied trade tower-cum-business district project at Manchirevula on the city outskirts. Reliance Energy quoted Rs 6.57 crores per acre while its competitor Elbit Medical Imaging, an Israeli firm, quoted Rs 6.10 crores per acre. The upset price was Rs 6 crores per acre and the project is estimated to cost Rs 5,400 crores.

Noted architect Hafeez contractor also favoured the design for the tower submitted by Reliance Energy. In all, the overall marks given to Reliance were 75.40 out of 100 while Elbit got 71.29. Reliance Energy will start construction by September and will engage the services of world renowned architect Norman Foster. Company officials expressed happiness at getting the contract since the opening of financial bids coincided with the death anniversary of founder Dirubhai Ambani.

The tower with 100 floors will be about 450 metres tall and will accommodate offices, hotels and malls. “The company will be given the confirmation letter in a few days,” said Mr B.P. Acharya, managing director of the Andhra Pradesh Industrial Infrastructure Corporation. “The trade tower has to be constructed in three years and the business district in five years.”

APIIC put a pre-bid condition that the company which bagged the contract should first construct the trade tower in 30 acres and would be given the remaining 50 acres after that. A special purpose vehicle will be set up to execute the project in which Reliance Energy will have 66 per cent equity, Bangalore-based Sobha Developers 23 per cent and APIIC 11 per cent.

http://www.business-standard.com/com...N&autono=25195

REL, Sobha win Rs 6,400cr project in Hyd
BS Reporter / Hyderabad July 7, 2007
A consortium led by Reliance Energy has emerged as the successful bidder for the Rs 6,400 crore business district project proposed in Hyderabad by the state-owned Andhra Pradesh Industrial Infrastructure Corporation(APIIC).

The project will have three modules, including a 100-plus storied tower, and is scheduled to be completed in three years. The project is expected to be completed in five years.

According to an official of Reliance Energy, the business district project will have a built-up area of about 11 million square feet. This is the first major infrastructure project being taken up by the Anil Dhirubhai Ambani Group in Andhra Pradesh.

Reliance Energy will hold 66% equity in the project while its joint venture partner, Sobha Developers, will hold 23% stake. The remaining 11% equity is held by APIIC towards the land component of the project.