Trump to invest in second project with Panchshil.

Pune could well be the only city in India to boost of two Trump Towers. Donald Trump recently said that he is in talks with the Panchshil Realty for a tie-up in their second upcoming project in Pune. Trump also said that he may look at an equity infusion in this project.

Pune-based Panchshil Realty, developer of luxury properties, is developing a 1.4 million square feet of property in Pune wherein they are looking to tie-up with the Trumps and hence bring the second Trump Tower into the city.

'We would like to invest in India but India has some pretty strong laws. We do expect to invest in these buildings. But more importantly we need good local partnerships. We would like to invest in project with Panchshil. I would invest substantially with this partner,' said Trump.

Atul Chordia, chairman and CEO of Panchshil Realty said: 'The project is still on the drawing board, we will perhaps make the announcement sometime next year. We need to get desired clearances. The only thing I can say is that the project is spread over 1.4 million square feet.'


BS