TN govt-Nuziveed Seeds Ltd sign MoU

Chennai, Apr 6 (UNI) Tamil Nadu government today signed a Memorandum of Understanding (MoU) with Secunderabad-based Nuziveedu Seeds Ltd, to set up a Special Economic Zone (SEZ) for Information Technology, with an investment of Rs 1,500 crore at Sholinganallur near here.

Tamil Nadu Industrial Development Corporation (TIDCO) Chairman and Managing Director S Ramasundaram and Nuziveedu Seeds Managing Director Prabakar Rao signed the agreement in the presence of Chief Minister M Karunanidhi at the Secretariat here.

According to the agreement, the proposed SEZ, in an area of 66 acres, would comprise residential complexes, a supermarket and a 150 room hotel.

The project, which would attract foreign telecom industries to set up their units, was expected to be completed in two years.

It was estimated that the project would generate direct and indirect employment to about 25,000 people, an official release here said.

UNI