Chennai, Apr 28 (UNI) The Tamil Nadu Government today entered into an agreement with Tata Reality and Infrastructure Limited and Indian Hotels Company Limited for the setting up of a Rs 3,000 crore Special Economic Zone (SEZ) for IT companies.
The SEZ, jointly promoted by state-owned Tamil Nadu Industrial Development Corporation (TIDCO) and the two companies, would come up on the IT corridor at Taramani, near here, on an area of 25.27 acre and would provide employment to 55,000 people.
TIDCO Chairman and Managing Director S Ramasundram signed the MoU with the two companies in the presence of Chief Minister M Karunanidhi at the Secretariat this morning,an official release here said.
The proposed SEZ would comprise an integrated multinational conference complex, a five star hotel and residential flats,covering a total area of 40 lakh sq ft.
The first phase, covering 20.30 lakh sq ft would be completed by 2009 and the second phase, covering 19.70 lakh sq ft would become ready in 2011.
The Zone would provide direct employment to 40,000 people and indirect employment 15,000 people, the release said.
Chief Secretary L K Tripathy, Industries Secretary M F Farooqui were among others present on the occasion, the release added.
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