DS Kulkarni Developers Limited (DSKDL), a well known Property Development and Construction Company, has informed that it has terminated its agreement with GTC Cyprus Holding Pune Ltd for development of a special economic zone (SEZ) project.    

The company stated in an official release that, the agreement which was executed on July 3, 2008, between the company and GTC Cyprus Holding Pune Ltd for joint development of SEZ project has been annulled and terminated.

However, DSKDL will continue with the development of the proposed SEZ.    

It should be noted that DSKDL and GTC Cyprus, a Kardan Group company, has signed an agreement to develop jointly a 250 acres multi-Service SEZ project in Pune through a 50:50 joint venture.    

Kardan Group is based in Netherlands and the company has various real estate projects in Western Eastern Europe, Central Europe and China.