Construction company D S Kulkarni Developers (DSK) said it will form a 50:50 joint venture with GTC Cyprus, part of the Dutch-Israeli investment fund Kardan NV, to develop a 250-acre multi-service SEZ in Pune. In a regulatory filing, DSK said GTC would invest up to $90 million in the project in a phased manner. Any further equity contribution will be made by DSK and GTC in their shareholding proportion. The total build-up area of the project is estimated to be more than 15 mn sq ft and total investment in the project is estimated to be around $1 billion.

Courtesy:- ET dtd:- 6th july 2008