Shriram plans IT Park at Standard Motor site

Chennai, Sep 19: Shriram Properties Limited would set-up an IT Park at Standard Motor's plant site, which it had acquired through the High Court here for an amount of Rs 154.1 crore.

Talking to newspersons here today, the company Managing Director M Murali said Matex Net was appointed as company's e-auctioneer to sell the Standard Motor's plant and Machinery assets spread across over 58 acre.

Mr Murali said the State Government had already accorded them Special Economic Zone (SEZ) status.

Matex Net Private Limited Managing Director Jagan Nivasan said the bidding for sale of the Standard Motor's plant and machinery, would be held on September 27.

Mr Nivasan said the e-auction, would enable buyers from across the country to participate in the real-time online transaction.

Four-hundred companies were expected to participate in the auction, he added.

UNI