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Balaji Amines builds a five star hotel with an investment of Rs 40 crore. The name of the project is Balaji Sarovar Premier.
The Bank of Baroda is financing the 120-room hotel as well. Its share of financing the hotel is up to Rs 25 crore.
The five star hotel is coming up on the company's own land (three and half acres) in Solapur.
“With hardly any major hotel, we thought we could take advantage as an early bird in the sector. Further, having bought land several years ago, the project was comparatively economical,” Mr. Reddy said.