News: Israeli firms to invest $140 m in Hyderabad

(PTI 10/01/2007) Jerusalem - Two Israeli companies are set to invest $140 million in a real estate project in Hyderabad, a media report here said.

Property and Building Ltd and Electra Real Estate Ltd are holding negotiations to buy a 35 acre plot in Andhra Pradesh's capital for $23 million with an unnamed Indian partner also joining the project, business daily 'Globes' reported.

The talks are said to be in an advanced stage. The companies plan to build a 280,000-sq m residential and commercial complex on the site.