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Espoo, Finland, Nov 13, 2007 - (Hugin via ABN Newswire) - KONE Corporation, Press Release, November 13, 2007
KONE has received a major order from Indiabulls Properties Pvt Ltd for the design, supply and installation of 40 elevators for the Jupiter Mills high-end commercial development area in South Mumbai in India. The project involves the construction of two signature buildings, which are designed by the renowned architect Hafeez Contractor.
"This order is an important indication of KONE's strong presence in the high-end segment in India. We are delighted to continue participation in the re-development of Mumbai as a modern city," says Pekka Kemppainen, KONE EVP and Area Director for the Asia-Pacific region.
The Jupiter Mills development is the first of its kind in Mumbai's emerging central business district and thus represents the start of a new phase of development in Mumbai City. The project comprises two towers of 92 meters and one of 84 meters. The development will include a large central landscaped plaza, fine dining restaurants, recreation areas and world-class office premises.
10 of the installed elevators will be customized glass elevators. The installation of the equipment is expected to begin in December 2007 and to be completed in June 2008.
KONE has been present in India since the early 1980s, and today it is one of the leading suppliers of elevators and escalators in the country. Earlier this year, KONE was chosen to supply all elevators for the second phase of the construction process of the Delhi Metro in India.
Indiabulls Properties is a Mumbai-based real estate company focusing on high-end commercial spaces, premium residential developments, malls and special economic zones.
About KONE
KONE is one of the world's leading elevator and escalator companies. It provides its customers with industry-leading elevators and escalators, with innovative solutions for their maintenance and modernization. KONE also provides maintenance of automatic building doors. In 2006, KONE had annual net sales of EUR 3.6 billion and approximately 29,000 employees. Its class B shares are listed on the OMX Nordic Exchange in Helsinki, Finland.
www.kone.com
For further information, please contact: Minna Mars, SVP, Corporate Communications & IR, tel. +358 (0)50 384 9440 or +358 (0)204 75 4501
