Bodhi Tree Multimedia (NSE:BTML, BOM:543767) has signed a memorandum of understanding with the State Government of Assam in India, to launch a global media hub in the city of Guwahati, with an investment of 5 billion Indian rupees, according to a Tuesday filing to the Indian stock exchanges.
The planned facilities in the hub include a media city, a luxury wellness resort, and an India Pavilion to showcase India's culture.
The company is also planning to set up similar hubs in other parts of the country.
Shares of the company were down nearly 1% in recent trade.