EIH to invest Rs.421 crore in Oberoi luxury resort in Goa

The hospitality major EIH ltd, in a stock exchange filing, said that its Board has given approval for the construction of an Oberoi Luxury Resort on a site spanning 52 acres at Cavelossim Beach in South Goa.

The luxury resort will have 90 rooms and suites, and will cater to domestic as well as international travellers.The proposed luxury resort is to be set into operation from October 1, 2027. The company’s Board of Directors approved the investment proposal at the meeting held on March 28.
The mode of financing for the said project will be through internal accrual and debt, stated EIH in a recent exchange filing.

The shares of EIH Ltd gained nearly 8% on Monday, April 1, after the company announced its plans.