Mumbai, May 28: Tata Realty and Infrastructure (TRIL) part of the Tata Group has on Wednesday, May 28 disclosed that it will be developing projects worth Rs. 20,000 crore in the next three years.
TRIL that is planning to raise a Rs 4,770 crore international infrastructure fund by the end of the year to invest in its infrastructure projects is a 100 per cent per cent subsidiary of Tata Sons. The company is focused on developing long-term infrastructure projects and large FDI (Foreign Direct Investment).
TRIl is reportedly planning a project in Chennai, Ramanujam IT City which is a 25-acre IT/ITeS SEZ. The project that will be completed Dec 2011 will cost about Rs. 3,800 crore, will comprise of a 3-lakh sq. ft. international convention centre, 3-lakh sq. ft. of residential apartments and a 250-key 5-star hotel set up with Indian Hotels.
TRIL is alos planning to develop IT SEZs in Ahmedabad, and in Hinjewadi for group company TCS. And it will also develop the third IT SEZ for TCS in Kolkata.
Tata Housing Development Company, another unit of Tata Sons, recently launched a low-cost housing project in Mumbai which are known as Nano Housing. The rest of the country too may see Nano Housing soon, the company says.