Shristhi plans Rs 800cr hotel

"It would be a 150 metre building built on eight acres at Rajarhat and can be the tallest building of the country," said Sujit Kanoria, chairman and managing director of SIDCL.

The total project cost is pegged at Rs 800 crore and the company has tied up with a leading international hotel brand.

However the CMD refused to divulge the name of the hotel brand, saying, "We are in the final stages of negotiation, and it would not be right to reveal the name now." The facility would have 500 rooms, and it would be operational in three years.

The Kolkata-based company is currently engaged in projects with total investment upto Rs 5000 crore across the country, out of which 85 percent were in west Bengal.

They included two logistic terminals in the Indo-Bangladesh border at Bongaon, North 24-Parganas, and Raniganj, a sports city in Haldia and a mixed used development at Rajarhat, NRI premium villas at Shantiniketan and a green township at Asansol. All these projects are under various joint venture partnerships. Meanwhile the company is eying a foray into the hospitality sector.

Accordingly the company has forged a 50:50 joint venture with Domina Hotels. The new entity would be known as Domina Hotels Pvt Ltd. "We launched a new brand-- Vedic Hotels and Resorts for our hotel business venture," Kanoria added. The first hotel under the new brand would come up at Udaipur.

"We are looking to set up 30-40 hotels across India in the next 5 years and subsequently we might go international," he said.