Ansal ties up with Noor Capital for 2 projects
Ansal Properties and Infrastructure Ltd on Tuesday signed an accord with Abu Dhabi-based investment firm Noor Capital and its advisor India Realty Ltd for setting up two township projects in Uttar Pradesh.
By PTI |
NEW DELHI: Ansal Properties and Infrastructure Ltd on Tuesday signed an accord with Abu Dhabi-based investment firm Noor Capital and its advisor India Realty Ltd for setting up two township projects in Uttar Pradesh.
The projects in Agra and Ghaziabad are projected to record a turnover of around Rs 3,000 crore over the next 7-8 years, an Ansal press release said.
Noor Capital will bring foreign direct investment of more than Rs 500 crore for the projects, industry sources said.
"The FDI is initially proposed into the 500 acres of township in Agra project of the company, and a group housing project in Ghaziabad, one of the joint ventures of the company," Ansal informed Bombay Stock Exchange.
Noor Capital, an investment firm licensed and regulated by the Central Bank of the United Arab Emirates, has a diverse and multinational shareholder base, which includes the UAE, Kuwait, Saudi Arabia, Qatar and Bahrain, Ansal said.
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