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| Exchange Disseminated Time | Magnum Ventures Ltd has informed BSE that the Board of Directors of the Company at its meeting held on January 30, 2008, granted "in principle" approval for the following:
1. Upgrading of the proposed 4 star hotel being set up at Sahibabad, National Capital Region to 5 star category. The revised project cost due to up gradation to 5 star category will be Rs 176.86 Crores as against the present project cost of Rs 102.63 Crores for setting up the Hotel under 4 star category. There will be no change in the implementation schedule and the commercial launch of the Hotel is scheduled for April 2009.
2. Setting up of a plant for manufacture of 1500 tonnes per month of Precipitated Calcium Carbonate (PCC) within the factory premises of the Company. PCC is a raw material for the manufacture of Paper. The estimated project cost is Rs 36.24 Crores. |
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