Infinity Group to set up Rs 4,000 cr education city in Bhutan

The 1,000-acre project plot is placed between capital Thimphu and Paro, where the country's lone airport is located

Kolkata-based is set to build a Rs 4,000 crore in Bhutan and has formed a joint venture with Infrastructure Leasing & Financial Services Limited for the same.

At 8,000 ft above sea level, this may well be the first project at such an elevation.

The 1,000-acre project plot is placed between capital Thimphu and Paro, where the country’s lone airport is located.

“The land acquisition is complete and the work should start in sometime. We have formed a 50:50 JV with for the same and the whole project would see an investment of around Rs 4000 crore,” Ravindra Chamaria, group chairman, told Business Standard.

It is also in talks with the leading universities of UK, USA and Australia who have shown interest to set up their campuses in the world's youngest democracy.

"The talks are on with these institutions at various levels with some world renowned universities. But the details are yet to be worked out to announce those names,” he said adding that the 600-year independent school of UK -- Durham School -- which entered India on Thursday is likely to set up campus there.

This would be a real boost and one of the big investments to be made in Bhutan, which is leaving no stone unturned to attract foreign investment. The country has been keen to rope in investors especially after a survey was carried out by the World Bank in 2011, called the investment climate assessment  not very 'investment friendly' and that access to finance was one major constraint.

The World Bank survey pointed out lack of infrastructure as a major reason for poor performance in the investments despite scoring on political stability. Bhutan's foreign direct investment flow was only $120m in 2010, according to the report.

Chamaria pointed out that the funds required for the mega project have come from internal accrual and there was no plan for private equity placement to feed the expansion needs.

image
Business Standard
177 22
Business Standard

Infinity Group to set up Rs 4,000 cr education city in Bhutan

The 1,000-acre project plot is placed between capital Thimphu and Paro, where the country's lone airport is located

Digbijay Mishra  |  Kolkata 



Kolkata-based is set to build a Rs 4,000 crore in Bhutan and has formed a joint venture with Infrastructure Leasing & Financial Services Limited for the same.

At 8,000 ft above sea level, this may well be the first project at such an elevation.

The 1,000-acre project plot is placed between capital Thimphu and Paro, where the country’s lone airport is located.

“The land acquisition is complete and the work should start in sometime. We have formed a 50:50 JV with for the same and the whole project would see an investment of around Rs 4000 crore,” Ravindra Chamaria, group chairman, told Business Standard.

It is also in talks with the leading universities of UK, USA and Australia who have shown interest to set up their campuses in the world's youngest democracy.



"The talks are on with these institutions at various levels with some world renowned universities. But the details are yet to be worked out to announce those names,” he said adding that the 600-year independent school of UK -- Durham School -- which entered India on Thursday is likely to set up campus there.

This would be a real boost and one of the big investments to be made in Bhutan, which is leaving no stone unturned to attract foreign investment. The country has been keen to rope in investors especially after a survey was carried out by the World Bank in 2011, called the investment climate assessment  not very 'investment friendly' and that access to finance was one major constraint.

The World Bank survey pointed out lack of infrastructure as a major reason for poor performance in the investments despite scoring on political stability. Bhutan's foreign direct investment flow was only $120m in 2010, according to the report.

Chamaria pointed out that the funds required for the mega project have come from internal accrual and there was no plan for private equity placement to feed the expansion needs.

RECOMMENDED FOR YOU

Infinity Group to set up Rs 4,000 cr education city in Bhutan

The 1,000-acre project plot is placed between capital Thimphu and Paro, where the country's lone airport is located

Kolkata-based Infinity Group is set to build a Rs 4,000 crore education city in Bhutan and has formed a joint venture with Infrastructure Leasing & Financial Services Limited for the same.

Kolkata-based is set to build a Rs 4,000 crore in Bhutan and has formed a joint venture with Infrastructure Leasing & Financial Services Limited for the same.

At 8,000 ft above sea level, this may well be the first project at such an elevation.

The 1,000-acre project plot is placed between capital Thimphu and Paro, where the country’s lone airport is located.

“The land acquisition is complete and the work should start in sometime. We have formed a 50:50 JV with for the same and the whole project would see an investment of around Rs 4000 crore,” Ravindra Chamaria, group chairman, told Business Standard.

It is also in talks with the leading universities of UK, USA and Australia who have shown interest to set up their campuses in the world's youngest democracy.

"The talks are on with these institutions at various levels with some world renowned universities. But the details are yet to be worked out to announce those names,” he said adding that the 600-year independent school of UK -- Durham School -- which entered India on Thursday is likely to set up campus there.

This would be a real boost and one of the big investments to be made in Bhutan, which is leaving no stone unturned to attract foreign investment. The country has been keen to rope in investors especially after a survey was carried out by the World Bank in 2011, called the investment climate assessment  not very 'investment friendly' and that access to finance was one major constraint.

The World Bank survey pointed out lack of infrastructure as a major reason for poor performance in the investments despite scoring on political stability. Bhutan's foreign direct investment flow was only $120m in 2010, according to the report.

Chamaria pointed out that the funds required for the mega project have come from internal accrual and there was no plan for private equity placement to feed the expansion needs.

image
Business Standard
177 22
Widgets Magazine

More News

Widgets Magazine
Widgets Magazine

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard