Shivalik, Uk Firm Tie Up

The new joint venture company, christened Gaekwad Leisure, will be responsible for the management and construction of the golf course in the Nirvana Valley Golf and Country Club, promoted by Shivalik.

The construction of the golf course will begin in October this year.

Confirming the tie-up with Southern Golf of United Kingdom, Shivalik's company's chief executive officer, J P Singh, told Business Standard: "The new joint venture company, Gaekwad Leisure, will also undertake turnkey construction and management of other sports and leisure-related projects like development of polo fields too apart from golf courses."

In the new joint venture company, Gaekwad will hold 55 per cent equity stake, while the rest 45 per cent will be held by Southern Golf of the United Kingdom.

 

The UK-based company, which specialises in construction of designer golf courses, already has 50 courses to its credit.

Shivalik is also negotiating with three other international companies for a second golf resort.

However, according to chief executive officer Singh, the site for the second venture has not yet been finalised. It will be decided later.

The Nirvana Valley project, located just off the Mumbai-Pune highway, is the brainchild of Prince Sangramsinh P Gaekwad, chairman of the Baroda Rayon Corporation.

The total cost of the golf project is Rs 114 crore, of which the designer golf course itself will be constructed at a cost of Rs 17 crore.

A five-star 51-bedroom hotel will also be part of the Nirvana Valley project with timeshare being another unique selling proposition.

The Nirvana Valley Golf & Country Club's master plan has been designed by Bangkok-based Design 103 Ltd.

The 350-acre topographically dramatic master plan envisages a Jurassic Park-type valley site replete with leisure facilities like a golf course, swimming pool and 5-star level hotel.

While Southern Golf will be constructing the golf course, the course has been designed by International Management Group in collaboration with international Scottish golf professional, Colin Montgomerie.

Spread over 150 acres, the layouts of four large waterbodies have already been built.