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Home > Business > Business Headline > Commodities

Reliance to build India's tallest trade tower

Commodity Online | October 10, 2007 17:39 IST

The Andhra Pradesh government has awarded contract for developing India's tallest 100-storey trade tower and business district to a consortium led by Reliance Energy [Get Quote].

The consortium led by Reliance Energy of Anil Dhirubhai Ambani group received the Letter of Award to develop over 77 acres of land, a news agency said on Tuesday quoting sources.

The award letter for the Rs 6,000-crore (Rs 60-billion) project came from the Andhra Pradesh Industrial Infrastructure Corporation, the source said.

When completed the trade tower would be the tallest building in India.

The work involves design, development, funding, construction, marketing, operation and maintenance of the project. The consortium and APIIC together will form a special purpose vehicle for the operation of the project.

The first-phase of the three-phase project is to set up the trade tower on over 4 million sq. ft area. The second phase is to develop the business district on 30 acres in seven years. In the third phase the remaining 16.28 acres of the business district on would be developed.

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