Parsvnath Developers has been awarded a contract for construction and development of footwear design & development institute at Fursatganj, Rae bareli, Uttar Pradesh (FDDI) by FDDI, Ministry of Commerce, Government of India, worth Rs 47 crore, approximately and the scheduled date of completion would be end November, 2008.
Another North Indian Developer, Omaxe Constructions in consortium with GVK Power & Infrastructure and Nagarjuna Construction Company has put in bid for the Rs 30000 crore project.
The project is proposed to be executed through a special purpose vehicle on Design, Build, Finance and Operate model by collection of toll in the concession period which is of 35 years and later the assets will be transferred to Uttar Pradesh state government.