Chennai's Asiana Hotels is in pact with Australian fund manager Banyan Fund
Management for A$40 million (approx Rs 148 crore) investment to fund its
upcoming projects in
Sriperumbudur,
Pillaiyarpatti and
Rameshwaram in Tamil Nadu.
Construction work on the Sriperumbudur project is likely to commence in a
fortnight while work on the other two ventures are expected to begin by
end-2009. The Rameshwaram property, where the company has 300 acre will be
developed as a resort with 240 rooms and 140 villas.