Kolkata: The Oberoi Group, which had brought in Reliance Group as a strategic investor through share sale in EIH Ltd to counter any hostile takeover bid in 2010 and allowed two board berths, had also proposed to extend the relationship for a luxury hotel venture in 2012.
Three years down the line, the project for setting up a hotel property, to be managed by EIH, on Reliance owned land at Navi Mumbai, has not take off yet.
“The project is stalled because of non-availability of environmental clearance”, said PRS Oberoi at a press conference after an AGM, which was attended by Nita Ambani.
The coastal regulation norms for constructions had come in the way. Under the norms, only five acres of the 15 acre plot at Navi Mumbai can be used for construction of a hotel property with a very limited height. Even the recent (in June) amendment to the norms did not relax Mumbai coastline area from existing restrictions on construction heights.
Asked whether the hotel-cum-service apartment project under the five star Trident brand has been abandoned, Oberoi said the construction might start as soon as the environment clearance is obtained.
EIH is also awaiting environment clearance for another project on its 55 acre beach front area in Goa.