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Monday, July 24, 2006

Kamath Group to invest Rs 130cr in Nagpur

Mumbai-based Kamat Group is planning to increase its investment exposure in Nagpur from Rs 30 crore to Rs 130 crore.

The group, known for its chain of ecotel properties under the brand name of Orchid, will be starting three projects here - a catering college, a three-star hotel and a convention centre.

According to Virendra Khare, whose architecture firm has bagged the contract for the catering college and the three-star hotel, land for the projects has already been acquired. While the catering college is to come up close to the centre of the city at Chhatrapati Square, the hotel and convention centre will be close to the airport on Wardha Road.

Kamat's catering college will also have a "trial hotel" and two museums. One will be on the theme of 'enviroscope' -- displaying products made out of waste -- while the other will feature regular antiques.

The convention centre will be the most ambitious project of the Vithalrao Kamat promoted group, and cover an area of 50 acres. It is in this project that the group plans to invest Rs 100 crore. The project is expected to come up about 6.5 kms ahead of the airport on Wardha Road. The convention centre is being planned on the lines of a centre that the group already has in South Africa. Apart from the normal facilities of a usual convention centre, it will also feature eco-friendly five-star facilities.

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