Unity Infraprojects awards contract to BSEL Infra

Unity Infraprojects Ltd has informed that the Company on January 04, 2007 had informed about Contract awarded to the Joint Venture with BSEL Infrastructure Realty Ltd, for constructing operating and Maintenance of Hotel, on a Build Operate and Transfer basis.

Further the Company has BSE that, the Kamath Hotels India Ltd have been inducted in the Joint Venture for operating of the Hotels and the Company has formed the SPV Company in which the Unity Realty and Developers Ltd. Wholly Owned Subsidiary of the Company, Kamath Hotels (India) Ltd and BSEL Infrastructure Realty Ltd holds shares equally.

The Company further informed that the Wholly Owned Subsidiary of the Company, Unity Realty & Developers Ltd, Kamath Hotels (India) Ltd and BSEL Infrastructure Realty Ltd have agreed to dilute their stakes in the said SPV from 33.33% each to 17% each with 49% stake being offered to Clear Water Capital Partners (Cyprus) Ltd.

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