Township To Receive $200Mn FDI

Mumbai: The state government''s industrial infrastructure subsidiary MIDC will jointly build an integrated township with New York-based realty firm at Hinjewadi on the outskirts of Pune which is known for housing some of world''s best-known IT companies like Infosys, Wipro, Oracle, IBM among others. Vornado will infuse $200 million in the township project which will be built up over the next five years. The project will be developed jointly by MIDC and Vornado, and a special pur-pose vehicle (SPV) has been floated to execute the township project called Vornado-Hinjewadi Township Pvt Ltd.