BSEL Infrastructure

BSEL Infrastructure Realty Ltd has informed that Clear Water Capital Partners (Cyprus) Ltd has taken 49% stake in the SPV Company formed by BSEL Infrastructure Realty Ltd in equal Joint Venture with Unity Realty and Developers Ltd and Kamat hotels (India) Ltd. The same has resulted in dilution of present stake of BSEL Infrastructure Realty Ltd, Unity Realty and Developers Ltd and Kamat hotels (India) Ltd in the said SPV from 33.33% each to 17% each.

With reference to the earlier announcement dated January 04, 2007, BSEL Infrastructure Realty Ltd and Unity Realty and Developers Ltd in Joint Venture has been awarded a project from constructing, operating and maintaining on Build Operate Transfer basis a hotel with 400 rooms. Kamat Hotels (India) Ltd have been inducted in equal Joint Venture for operating of the Hotels.

The Projects is a fast track project to be completed before beginning of 3rd Commonwealth Youth Games 2008, at Sbiv Chhatrapati Sports Complex, Balewadi, Pune.