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Videocon to foray into hospitality, hydropower
May 13, 2008: After foraying into the telecommunications and thermal power sectors, Videocon Industries is sewing up plans to enter into hospitality and hydropower. The company is in talks with the Uttarakhand government for various projects.
In the hotel sector, Videocon is ready to invest Rs.600 crore in Uttarakhand alone. A five star hotel and construction of a Dehra Dun-Mussoorie ropeway are the immediate proposals of the company in the hill state. Besides this, Videocon is also interested in acquiring a heritage building in a Mussoorie hill resort. The company is eyeing for ten acres of land for the construction of five or seven star hotel on the foothills of Mussoorie. An amusement park is also on the cards near the proposed hotel.
As far as hydropower is concerned, Videocon expects to produce nearly 2,000 MW in the first phase of the plan. The company has also held talks with the Uttarakhand Power Corporation (UPCL) for selling the power.
Source: Business Standard