Tata to Develop Rs 30 bn IT SEZ in Chennai

May 1, 2008	(1 votes, average: 5 out of 5)  Loading ...
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Tata Realty and Infrastructure Ltd (TRIL) announced an agreement with Tamil Nadu Industrial Development Corporation (TIDCO) to jointly develop an IT special economic zone (SEZ) at a cost of Rs 30 billion (nearly $750 million) here.

Located on a 25-acre plot in Taramani, the SEZ will include a five-star hotel or service apartments, an international convention centre and help generate direct employment for 40,000 people and indirect employment to another 15,000.

TRIL chairman RK Krishna Kumar, who is also a director of Tata Sons Ltd, said the project would prove to be a milestone towards bridging development of IT and ITES-SEZs in India.

The SEZ is to be implemented in two phases - the first phase of 2.30 million square feet will be ready by end-2009 and the remaining 1.70 million would be completed by 2011.

The joint venture agreement for the IT SEZ was signed by TIDCO chairman and managing director S. Ramasundaram and Krishnakumar here in the presence of Tamil Nadu Chief Minister M Karunanidhi.

TRIL is a new enterprise of Tata Sons Ltd, the holding company of the Tata Group. It has embarked on several projects for real estate and infrastructure development.

News Published Under:   Real Estate India, Chennai, Special Economic Zones |

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