VISA Urban Infra, a part of VISA Group, would invest Rs 350 crore to build a star hotel and convention centre at Naya Raipur—the upcoming new capital city of Chhattisgarh.
The phased development of the project includes office towers, hotels and a convention centre. In the first phase, the Company plans to develop a start hotel with 150-200 rooms besides convention center with a capacity of 1500 delegates.
“The company would be investing about Rs 350 crore on the project,” a company spokesperson told Business Standard. The entire project is slated to be complete by early 2016. Phase 1 would be earlier than 2016. The Company plans to invest Rs. 250 Crores on the first phase of development.
The Company is in discussions with various leading International and National chain of hotels for providing the expertise for functioning of the hotel and convention center.
The South African company, Bentel Associates has been appointed as the Principal Architect of the project. Bentel has been involved with some of the most prestigious developments in the Country including UB City in Bangalore, South City in Kolkata and DB Mall in Bhopal. The Company shares the vision of the NRDA for developing Naya Raipur as a ‘Green city’ with large tree plantation, arrangements for water conservation and waste water recycling, use of non-conventional energy resources to the maximum and create a development which will be a safe and inspiring urban complex and integrate business with entertainment, the spokesperson added.
The work on the projects had started. The company officials said that the area grading work had already started and demarcation of the boundary wall was in progress.
VISA Urban Infra is part of the Rs 5,000 Crore VISA Group – a minerals, metals and energy conglomerate with business interests in steel, power, international trading, shipping, mining and real estate. The company is setting up with a power project in the state.
