DS Kulkarni Developers Ltd (DSKDL) has executed a shareholders agreement with GTC Cyprus, a Kardan Group Company, to jointly develop a 250 acres Multi-Service SEZ Project in Pune through a 50:50 joint venture (JV).


</p><tr><td><p class='TableClas'></p><P class='TableClas'><DIV CLASS=rightDiv><script language="JavaScript">
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		<script type="text/javascript" src="http://pagead2.googlesyndication.com/pagead/show_ads.js">
		</script> </DIV><p class='TableClas'>Kardan Group is based out of Netherlands and have real estate projects in Western Eastern Europe, Central Europe &amp; China. </P>
</p><p class='TableClas'>GTC shall invest up to apprx $90 million against their stake in the JV company in a phased manner. </P>
</p><p class='TableClas'>Any further equity contribution shall be made by DSKDL and GTC in their respective shareholding proportion. </P>
</p><p class='TableClas'>The total build-up area of the project is estimated to be more than 15 million sq ft and the total investment in the project is estimated to be around $1 billion.</P></p><p class='TableClas'></p></table>


DSKDL & GTC to develop $1 billion SEZ Project

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