Date:16/12/2004 URL: http://www.thehindubusinessline.com/2004/12/16/stories/2004121602901700.htm

Back ITE India to set up `Expocities'

Our Bureau

Hyderabad , Dec. 15

ITE India Private Ltd, a Rs 150-crore expo company, plans to establish `Expocities' in Hyderabad, Jaipur, Noida, Kolkata, Chandigarh, Delhi, Guwahati and Visakhapatnam.

The first Expocity will be ready by April on the Lower Tank Bund in Hyderabad. The Rs 400-crore project is being developed by Shapoorji Pallonji and Co Ltd.

Announcing this here on Wednesday, Mr Laxmi Niwas Sharma, Director of Hyderabad Expocity, said the 14-storeyed building was being promoted by the Tourism Department of Andhra Pradesh.

With the main theme being food and recreation, the 1.20-lakh sq ft centre will have conference facilities, luxury rooms, retail outlets, pubs and entertainment areas, catering to different segments of shoppers.

Besides internal accruals, the group plans to raise funds by selling and leasing out space and tapping financial institutions.