Spain based company to invest Rs 500 crore in tourism and housing in Himachal

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HimVani

Shimla: Walltech, a Madrid, Spain based company will invest over Rs 500 crore in Himachal on low cost housing and high end tourism promotion projects, according to an official release.

These projects would be earthquake resistant. Isidro Romero Cabro, head of the company would be soon visiting the state to complete the formalities. Prem Kumar Dhumal, Chief Minister of Himachal Pradesh, after a meeting with the company’s representatives – Girish Raj, Director National Project and Suresh Vachani – in Dharamshala, said that state had adopted an open door policy with regard to the foreign investment, especially in the sectors of quality infrastructure creation, high-end tourism and world class educational infrastructure in the State.

He further announced that the Duke of Seville Spain, Fransisco De Borirbone has been invited to the state to complete formalities before entering into agreement to take off the projects. He assured that the government was concerned about the preservation of the environment of the state and “would not compromise with any activity, which disturbs the ecology of the state.”

The representatives of the company, in turn, urged the Chief Minister to prepare a blue print based upon the guidelines submitted by them to finalise all the formalities in one go so that the project could take off without any loss of time.