IL&FS Investments has acquired an 82 per cent stake in GK Industrial Park for
around Rs 70 crore.
The park, coming up on 600 acre on the outskirts of Trichy in Tamil Nadu, is
being funded through debt and equity. The debt portion of Rs 77 crore is likely
to be funded by Punjab National Bank.
GK Industrial Park had invested around Rs 75 crore to acquire land and plans
to invest Rs 150 crore to create infrastructure in the park. The park will be
developed in two phases. Phase I is likely to come up on 265 acre and to
complete by December 2010.