Praveg Ltd Receives Letter of Award for Luxury Tourism Project in Meghalaya

Praveg Limited, a leading eco-responsible luxury resorts company in India, has received a Letter of Award (LoA) from the Directorate of Tourism, Government of Meghalaya for the Development, Operation and Maintenance of Luxury Cottages located at Umiam in Meghalaya. The project, to be executed under Design, Build, Finance, Operate and Transfer (DBFOT) mode on Public-Private Partnership basis, involves the development, operation and maintenance of a minimum of 40 luxury cottages on approximately 10 acres of land, along with allied amenities and supporting infrastructure. The project has been granted a concession period of 30 years, and the Company is required to complete development and make the project operational within 18 months from the Appointed Date. This development is expected to enhance accommodation capacity in Meghalaya, support destination development and reinforce Praveg’s asset-light concession-driven growth model.