Omaxe says to spend 18 bln to build township

Mon Jul 13, 2009 1:40pm IST

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NEW DELHI (Reuters) - Omaxe Ltd will spend 18 billion rupees over five to seven years to develop a township in the northern city of Allahabad, the realty firm said on Monday.

The township would bring in revenue of 22 billion rupees, Omaxe said in a filing to the BSE.

The construction firm said earlier on Monday it has entered into a pact with the Allahabad Development Authority to develop the hi-tech township.

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