Bata India is planning to fast track the completion of Batanagar Township project worth Rs 1,300 crore in West Bengal.
The township project being developed on 262 acre is promoted by Riverbank Developers, a 50:50 JV between Bata India and Calcutta Metropolitan Group. While the Phase I of the project is slated to be completed in 2011, the whole township is expected to be completed by 2013. Presently, the project is going a bit slow because of the financial downturn.
Meanwhile, Riverbank Developers has signed on Intercontinental Hotels Group (IHG) for running the proposed hotel and serviced apartment facility at Batanagar. As part of the initial 15 year deal between Riverbank and IHG, the hotel at Batanagar will be branded Crowne Plaza Hotels & Resorts and will have 200 rooms and 75 apartments.
Source : ProjectsToday
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