Rattha Group to invest $437.5 Mn in Chennai IT SEZ

Friday, 25 April 2008, 13:09 Hrs
Printer Print Email Email
Chennai: City-based Rattha Group will promote an IT special economic zone (SEZ) in Porur, west Chennai, at an investment of 17.5 billion ($437.5 million).

"The IT SEZ will come up on 26 acres in Porur. It will have a built-up area of 4.5 million square feet, consisting of four blocks," group chairman H.S. Rattha told reporters Thursday.

The SEZ is designed by US-based architect firm HOK. The first phase is expected to be ready by 2009 and the whole project by 2012.

According to Velan C., CEO of Rattha infrastructure Ltd, the proposed SEZ will also have a 100-room hotel, fine dining restaurants, retail outlets and other recreation areas such as gymnasium.

"While all other IT SEZs are coming up outside Chennai, ours is the only project that is developed in the city," he added.

He added that the SEZ buildings would comply with the green building regulations.
Source: IANS
GST rate cut to spur Bengaluru
The realty market in India's tech hub is set to grow as lower Goods and Services Tax (GST) rate..
Ola raises Rs 400 cr for electric
Leading ride-hailing cab aggregator Ola on Friday said it raised Rs 400 crore from its early in..
Fossil Group sells smartwatch
Global watch and accessories maker Fossil Group has announced to sell its smartphone technolog..
SpiceJet plans aggressive
Budget passenger carrier SpiceJet plans to aggressively expand its international networks to fl..