Perambalur (Tamil Nadu), Jul 10: Land acquisition for the setting up of a multi-purpose Special Economic Zone (SEZ) here is expected to be completed before the end of this month, according to official sources.
The SEZ would be developed jointly by GVK Infratech Private Limited and the Tamil Nadu Industrial Development Corporation.
An extent of 2,937 acre of land spread over five villages of Pennakonam (south and north), Thirumanthurai, Peraiyur and Eraiyur, about 20 km away from here on the National Highway to Chennai, is being acquired for the project. Already, a major portion of the required land had been acquired and registered, the sources added.
Initially, some of the land owners, especially those adjacent to the Tiruchirapalli-Chennai National Highway, were reluctant to part with their land, demanding a higher compensation. However, most of them had agreed to sell their properties, during the recent talks with district officials, the sources said.
Apart from providing jobs to nearly 50,000 people, the proposed SEZ would house industries like textile/garments, leather, engineering goods, pharmaceuticals, power, IT/ITES, iron and steel, fertilizers, chemicals, petro-chemicals, floriculture, horticulture, electronics and communication.
The project, which had received in-principle approval from the Board of Approval of the Union Commerce Ministry, was expected to attract investments of about Rs 5,000 crore over a seven-year period, the sources added.