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Joint venture by ITDC with Spain's
Aaldeasa
New
Delhi: The India Tourism Development Corporation
Ltd. (ITDC) will form a Joint Venture (JV) Company with
Aldeasa of Spain and subscribe to 50 percent of the
paid up equity capital of the JV company. The formation
of the proposed JV company with Aldeasa would enable
ITDC to effectively compete in the duty-free retail
industry in India and also expand its business operations
to locations outside the country. Aldeasa would bring
on board a strong international brand name, state-of-the-art
technology platforms, cutting-edge retailing practices
as well as global sourcing and supply chain linkages.
-April
26, 2007
Leading
Indian News Papers
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