Ranchi: The Indian Hotels Company Limited ( IHCL ), a Tata Group company which owns and operates Taj Hotels in India and abroad, on Wednesday inked a 60-year lease agreement with Jharkhand govt for setting up a Taj Luxury Hotel in the state capital. K Mohanchandran, vice-president (operations) IHCL, inked the agreement with Arava Rajkamal, secretary of the state urban development and housing department, at a formal ceremony which was held in the auditorium of the Jharkhand Mantralaya. Chief minister Hemant Soren and TV Narendran, Tata Steel’s managing director and CEO, also attended the function.
To be built over a sprawling six-acre plot in Dhurwa, five kilometres from the new assembly building, the hotel, which will be the second five star hotel in Jharkhand, will draw a net investment of Rs 400 crore. “It will employ over 1,000 people directly and indirectly. It is being built under a unique partnership where once the hotel begins its operations, it will share 3.
1% of its (annual) revenue with the state govt,” Rajkamal said..
