CAPITALAND is in talks with an Indian company to develop a piece of land near Pune in India, a source familiar with the negotiations said yesterday. The source's comments follow a report in India's Economic Times that the Singapore company will invest around 7 billion rupee (S$262 million) in a 50:50 joint venture with India's DS Kulkarni Developers to develop 60 acres of land.
Clarifying the Economic Times report, CapitaLand said in a statement to the Singapore Exchange: 'CapitaLand is currently sourcing for various opportunities in India.
In the course of our business dealings, we will have discussions with various interested parties.
We will make the necessary announcements at the appropriate time if there are any firm developments.' - Reuters
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