Ansal's Rs 926 cr investment

Ansal Townships & Projects Ltd will invest Rs 926.5 crore more in constructing townships and malls in Punjab. Of this, Rs 750 crore will be used for developing townships and Rs 176.5 crore for multiplexes and malls.

This excludes the earlier investments made by the company so far in the state. The firm is exploring markets in cities including Ludhiana, Jalandhar, Mohali, Bhatinda, and Amritsar.

Manager Suni Bhat said, "We have the licence to spend Rs 926.5 crore here in Punjab."

Director Suneal Mangal said, "We are the first one to tap the region. Our Jalandhar mall will be operational in six months and involves an investment of Rs 40 crore. It will be catering for people on the highway. For the upcoming mall in Ludhiana we have acquired around 2 acres of land. It's going to be quite different from what we already have here, almost double the size and with the same investment. Besides a multiplex, it will house a hotel of economy class and a shopping mall."