Mumbai, Oct 25 (UNI) Steel Strips Infrastructures Limited (formerly knowns as Steel Strips and Tubes Limited), a part of highly acclaimed Chandigarh-based Steel Strips Group, has planned a major foray in the infrastructure development sector, one of the fastest growing segment of Indian economy.

In a statement here today, Company chairman R K Garg said, ''Consequent to the corporate restructuring and sale of tubes plant, the Company has been transformed into an infrastructure development company with clear focus on realty and infrastructure development and management. The Company has recently promoted and developed an ultra-modern shopping mall in Noida near New Delhi. The SAB shopping mall and commercial parking project has been built at a total cost of Rs four crore.'' The Company proposes to implement three mega infrastructure projects near Chandigarh entailing a total investment of about Rs 30 crore. The projects include setting up of SAB Convention Centre, SAB Knowledge Park and SAB Shopping Mall. The Company will enter into long term branding and management agreement with one of the international hotel chains. Total outlay for this project is estimated at over Rs 10 crore, the release added.

UNI