Published:
Omaxe Infrastructure & Construction Private Ltd Receives LoI for Construction of Allopathic Medical College and Associated Hospital at Saharanpur, UP With Construction Value of Approx 250 Crores
NEW DELHI, August 21 /PRNewswire/ -- Omaxe Infrastructure & Construction
Private Ltd(OICPL), a wholly owned subsidiary of Omaxe Ltd has received a
Letter of Intent for the construction of Allopathic Medical College and
Associated Hospital at Saharanpur, UP from UP Government through UP RNNL. The
construction value of the project is Rs250 crores approx.
The project is spread over an area of 62 acres with total built up area
of 15.66 lac sq ft. It will comprise of an Allopathic Medical College and a
500-bedded hospital.
OICPL will also construct an Academic building, an auditorium, academic
hospital building. Apart from this, there will be hostels for students, a
separate hostel for nurses and resident doctors, guest house, autopsy
building, pump house, and principal residence.
According to Mr. Rohtas Goel, CMD, Omaxe Ltd., "Omaxe Infrastructure &
Construction Private Ltd is an outcome of Omaxe Ltd's strategic plan to
diversify its business into new markets. The announcement is consistent with
our company vision of providing state-of-art infrastructure and creating
opportunities to help meet local and global infrastructure demands. Omaxe
Infrastructure & Construction Private Ltd is slated to bid for other larger
infrastructure projects".
The construction of the project will be completed in two years.
The financial standing of Omaxe Ltd and rising demand of the projects
will further add to its value. Omaxe Ltd has prepaid 60% (Rs 180 crore) of
the total term facility (Rs 300 crore) taken by the company from Indiabulls
Financial Services Limited. Inspite of this term facility being for a period
of 3 years , all dues being serviced in time and a substantially higher
collateral security lying with the lender, it has been felt by the company to
prepay the loan in order to free up the equity. Omaxe is planning to retire
the outstanding of Rs 120 crore in near future. This step of Omaxe Ltd shall
further strengthen the trust of investors in the company.
For more details, please contact:
Dhananjay Srivastava
DGM - PR & Media
Omaxe House
Mobile:+91(0)9818099270
Anurag Nigam / Neeti Mathur
Adfactors PR Pvt Ltd
Mobile: +91(0)9818296645 / +91(0)9871551232
SOURCE Omaxe Ltd
Copyright © 2009, PRNewswire
Copyright © 2009, NewsBlaze,
Daily NewsTags: ,BIO,CST,HEA,MTC,FNC,PDT,Allopathic-Medical-Co
Search News
Daily News
