MoU signed for Rs 1,500 cr TIDCO-DLF SEZ

Chennai, Apr 23 (UNI) The Tamil Nadu government today signed a Memorandum of Understanding (MoU) with Real estate major, DLF Limited to set up IT and ITES Special Economic Zone (SEZ), involving a total investment of Rs 1,500 crore.

The SEZ, coming up as a joint venture, between the state-owned Tamil Nadu Industrial Development Corporation (TIDCO) and DLF, is being established on the IT Corridor at Taramani in an area of 26.64 acres, an official release here said.

TIDCO Chairman and Managing Director S Ramasundaram and DLF Chairman K P Singh signed the MoU in the presence of Chief Minister M Karunanidhi at secretariat this morning, the release said.

Aimed at providing employment to 55,000 people, the SEZ would be built in 45 lakh sq ft area. The first phase of the mega project, covering 25 lakh sq ft area, would be completed by 2009. The second phase would be completed by 2011, the release said.

The establishment of the zone would provide direct employment to 45,000 youths and indirect employment to 10,000 people, it said.

Chief Secretary L K Tripati, Finance secretary K Gnanasekaran, Industries secretary M F Farooqui, IT Secretary S Chandramouli, among others, were present on the occasion.

UNI WS VV PJ AS1556