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Rai Saheb Rekhchand Mohota Spg.& Wvg. Mills enters into JV for Rs 300 cr development project

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In Nagpur

Rai Saheb Rekhchand Mohota Spg.& Wvg. Mills has entered into joint venture agreement with Armors Developers for the multi-use development project with an estimated value of Rs 300 crore. The development project spread over 2 acres with total development targeted of 3,33,000 sq. ft. will be completed over 18 months starting October 2017 via a SPV. The Company has passed the resolution for setting up of a SPV for the development projects. The land is located in a posh area near Metro Railway Station Project which is expected to attract further investments from businesses and corporates.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, October 10 2017. 13:37 IST