Friday, December 14, 2007

Gulf Finance signs deal for $10bn India economic zone

MUMBAI: Bahraini Islamic investment bank Gulf Finance House said on Friday it signed a deal to develop a $10 billion economic development zone near Mumbai that would tap booming sectors such as energy and telecommunications.

"The economic development zone... will include an energy city, apart from incorporating three additional components -- telecom city Mumbai, software city Mumbai and entertainment city Mumbai," Gulf Finance House said in a statement.

The bank in October said it had raised $630 million for an Indian infrastructure project.

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