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FINANCIAL NEWS
Dubai’s KEF plans to invest USD288m in Kerala
15 Sep 2012
(MENAFN) Dubai-based KEF Company unveiled plans to invest USD288 million in new projects in Kerala, south west India, Hindu Business Line reported.
The projects include a luxury hotel and three factories and a 500-bed hospital, said KEF company chairman Fazal Kottikollon, adding that the projects will create up to 10,000 jobs.
He also said that the three planned factories will be integrated manufacturing facilities specialising in pre-cast concrete technology for making kitchens, toilets, doors and windows.
The hospital at Kozhikode, scheduled for opening by the end of next year, is being built through a joint venture with the Peekay Group, according to the paper.
It added that the hotel will be spread over 30 acres at Chelembra in Kozhikode, and will feature a convention centre to accommodate over 3,500 people and a shopping complex.
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