MatexNet to conduct Online auction

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Chennai, Oct 16: MatexNet, a leading Online B2B auction service provider has received the mandate of providing e-auction platform for Tamil Nadu Road Development Company Limited's (TNRDC) Build Operate Transfer(BOT) project for constructing a world class amenity centre within the SIPCOT Information Technology Park at Siruseri near here.

It was for the first time a BOT Project was being auctioned Online in India, a company release said here today.

The auction would witness bids from reputed developers, firms and consortium having excellent track record for development of the amenity centre with a lease for 30 years, consisting a star hotel with one or more facilities like service apartments, multiplex, food courts, malls and hyper marts.

According to TNRDC Director K R Viswanathan, the company was looking for bidders, who are well-versed in development, operation and maintenance of three-star hotel with a capital investment of a minimum Rs 100 crore.

The initial process of auction would commence this week with the Online bidding scheduled for December seven TNRDC was a 50:50 joint venture of Tamil Nadu Industrial Development Corporation (TIDCO), the investment arm of Government of Tamil Nadu and Infrastructure Leasing and Financial Services (IL&FS), an all-India infrastructure development and financial services company.

TNRDC was set up with the mandate of developing road sector initiatives by catalysing private sector resources and investments under Public-Private Partnership (PPP) framework, the release added.


UNI

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