Released on: May 28, 2008, 2:02 am

Press Release Author: varma

Industry: Real Estate

Press Release Summary: UK-based Sun Group has firmed up plans to invest Rs 550 crore
in the real estate sector in Punjab.


Press Release Body: UK-based Sun Group has firmed up plans to invest Rs 550 crore in
the real estate sector in Punjab.

\"Initially, the company would set up multi-facility project which will involve
setting up of hotels, multiplexes and malls in the Mohali district,\" said a senior
official of Punjab Industries Department.

A high level delegation from the company led by its Chairman Nand Khemka today met
representatives of Punjab government and discussed their business plans with them,
said an official release issued here today.

The regional consultant of the Sun Group, Dilbagh Singh Mangat, assured the Punjab
Chief Minister that the group was happy with the investor friendly climate in the
state.

He said that the group plans to replicate the Mohali venture in other parts of the
state like Jalandhar, Amritsar, Ludhiana, Patiala and Bathinda.

It may be recalled that the sun group had already invested heavily in the revival of
Punjab Wireless Systems (Punwire) for production of defence electronics and civil
telecom items.

The Chief Executive Officer of Doha-based Barwa International Group, Ghassan al
Binali, who accompanied the Sun Group delegation, made a proposal for a significant
foreign direct investment in various sectors, especially power. ...........

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