Home BusinessC&C Construction in talks with hotel chains for Mohali prop
Infrastructure company C&C Construction Ltd today said it is developing a four-star hotel near Mohali entailing a total investment of Rs 60 crore and is in talks with international and domestic hospitality groups for its management.
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"We are talking to Hilton, Golden Tulip, Fortune and Palm Springs and for management of our hotel. The deal will be finalised in about a month," C&C Construction Chairman G S Johar told PTI.
The 100-room property will be completed by 2012. This will be part of Mohali"s Bus Terminal that the company is upgrading at a cost of Rs 500 crore.
"The entire bus terminal will be developed in three years. The total development entails 15 lakh sq ft out of which about 6 lakh sq ft will be for parking," Johar said.
Talking about other plans, he said the company said it has cleared the technical qualification stage for several highway projects worth around Rs 20,000 crore in the country.
The company also plans to focus on road projects in West Asia to increase earnings from international business.
Johar said the company would concentrate on road projects in countries like Oman, Saudi Arabia, Libya and the Central Asian nations of Kazakhstan and Kyrgyzstan "to take our overall revenue share from global business to 25 per cent in five years from 15 per cent currently".
At present, the company has an order book of Rs 3,100 crore for various projects.