By Surojit Gupta and Sumeet Chatterjee
(Reuters)
10 October 2007

NEW DELHI/BANGALORE - When Ashok Kheny decided in 1995, after 15 years in the United States, to return to India and take up a $700 million project to build a road and new townships, he dreamed of creating something unique.

Nearly 12 years on, the project has been less a dream and more a bureaucratic nightmare due to mountains of red tape -- a hallmark of doing business in India -- which often frustrates investors so much they put their money in China.

Kheny, managing director of the Nandi Infrastructure Corridor Enterprise consortium, signed a deal with the government of the southern state of Karnataka in 1997 to build a road to connect the technology hub of Bangalore with the city of Mysore 110 km (70 miles) away. The project was due to be completed by 2000.

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Posted by dcjaya at October 11, 2007 11:30 PM