Chennai, Feb 7 (UNI) Leading infrastructure developers Marg Constructions today launched its mega infrastructure project 'Marg Swarnabhoomi', a 'city' to be spread over 1,000 acres.
Talking to newspersons here, company Chairman and Managing Director G R K Reddy said "we have planned to invest 400 million US Dollars for the project, which is expected to create employment opportunities for over one lakh people." Located in the Latur block, Cheyyur Taluk, this city included two notified SEZs in 612 acres for 'Multi Services' and Engineering sector, including auto ancillaries', he added.
Mr Reddy claimed that the new city was projected to create an economy of one billion US Dollars over the next five years through self sustaining business model.
"Designed as a global city with world class civil and social infrastructure, 'Marg Swarnabhoomi' delivers the perfect setting for a work-life balance, while promoting the walk-to-work concept," he added.
He said apart from this, the city had been designed to international standards by world-renowned architects from the US based HOK company.
"It will offer superior civic infrastructure, ample provision of residential units, 24 hour water supply, power supply from the state electricity grid, optic fibre telecom and broadband connectivity, sewage treatment and desalination plants," he said, adding "social infrastructure will include educational institutions, wellness centres, shopping malls and a first-of-its-kind destination mall." The project would be completed in three phases, the first phase by December 2009, phase II by March 2011 and the third by December 2013.
"This innovative project provides pre-employment skill training to cover 5,000 unskilled workers by 2008," he said, adding the Latur block covers 41 panchayat villages with a population of nearly 80,000 with around 50 per cent SC and ST population.
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