Tata Realty and Infrastructure, which hopes to develop projects worth Rs 20,000 crore over the next three years, today said that the $1 billion infrastructure fund, sponsored by its parent company Tata Sons, is expected to close by 2009-end.
The offshore fund was started in the middle of the last year. We hope to close the fund by the last quarter of the current calendar year, Kishore Saletore, chief financial officer, TRIL, said here.
Established in 2007, TRIL, a 100 per cent subsidiary of Tata Sons, has already raised a $700 million offshore fund for investing in its real estate projects, which would receive Rs 11,000 crore investment out the proposed Rs 20,000 crore over the next three years.
More : business-standard.com
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