UK retail major keen to invest in Rajasthan

In a bid to increase its presence in India, British property and retail major Liberty International plc Wednesday announced its plans to invest about Rs.10-20 billion in Rajasthan.
Liberty International, which has a joint venture in the country with apparel manufacturer Provogue, is a major FTSE-100 ranking UK-listed property business with investments of over eight billion pounds. The company focuses on premier property assets, particularly shopping centres and other retail, which have high potential, scarcity value and require active management and creativity. David Fischel, chief executive officer of Liberty International, met Chief Minister Vasundhara Raje here Wednesday and announced his investment plans.
The British firm had set up a joint venture with Provogue to develop and manage prime regional shopping centres for the 'growing organised retail sector'. Prozone-Liberty, as the joint venture is known, plans to initially build six shopping centres in India.

Courtesy: EconomicTimes
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