VCCircle

Luxembourg based venture capital company Capital Tree Group Limited (CTGL) plans a slew of investments in India. Business Standard reports that CTGL has formed a JV with a local constructor in Ahmedabad to set up Gujarat's largest deluxe hotel complex (at a cost of about $150 million). The multi-pronged project, which includes a 242-room hotel, may come up near the airport and on the banks of the Sabarmati river. The hotel is expected to be ready by 2008 and will be spread in an area of 30,000 square yard, located near the Ahmedabad Airport.

CTGL will also be investing in an IT project in Bangalore, that may not be a call centre but a project focussing on Knowledge Process Outsourcing (KPO), says the report. The company is also looking for acquisition of an airline in India and is also in talks for another such acquisition with a company in Europe. "CTGL has also invested more than $10 million in Opal Travels Pvt Ltd, the Ahmedabad based Travel service provider," he added.