MoU inked for infrastructure and feeder township projects

By Staff
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Google Oneindia News

Chennai, Apr 28 (UNI) The UAE-based Ras Al Khaimah Investment Authority (RAKIA) today signed a Memorandum of Understanding (MoU) with the Tamil Nadu Government for two infrastructure and feeder township projects with a Rs 20,000 crore investment.

The MoU was signed by TIDCO CMD S Ramasundaram and RAKIA, CEO Khater Massaad in the presence of Chief Minister M Karunanidhi at the State Secretariat here, an official release said.

The MoU envisages development of infrastructure and feeder township projects at Coimbatore and Kadalur in Kancheepuram district with investments to the tune of Rs 20,000 crore.

The Coimbatore project would come up in an area of 1000 acres and would have an IT SEZ supported by an Integrated Feeder Township. It would be supported with social infrastructure like golf course, shopping malls, a resort hotel, a wellness Spa, single and multi-family homes of international standards.

The project, to be completed in five years, would have about five million sq ft of IT space and was expected to generate employment for over 50,000 people.

The 500 acre Kadalur Marina project in Kancheepuram would have water sports, leisure, entertainment, high end residential and a world class golf course. The project would provide employment for over 15,000 people and the land for the project would be purchased privately by the promoters.

UNI

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