The Hindu Business Line : Nitesh Estates setting up SEZ in Mangalore

Nitesh Estates, the real estate division of Nitesh Group, has announced the roll out of a two million sq ft special economic zone (SEZ) at Ganjimath in Mangalore.

A company release said here that in keeping with the Karnataka Government's strategy of developing tier-II cities as information technology (IT) and ITES hubs, Nitesh Estates has launched the project in Mangalore.

The Nitesh Estates Mangalore SEZ, which will provide employment to over 10,000 people, is estimated to be completed by early 2009. The two-million-sq ft SEZ will provide space for IT sector, it said.

Quoting Mr Vaidyanathan, Director, Operations, Nitesh Estates, the release said: "Mangalore is fast evolving as a major IT/ITES and BPO destination, with major international investors and multinationals looking at the city as a hub of varied business. With our expertise in property development, we aim at creating a zone which is well equipped and offers facilities that match international standards, and contribute to Mangalore's growth as the new IT hub of Karnataka."

Headquartered in Bangalore, Nitesh Estates is engaged in the development of residential apartments, office buildings, hospitality projects, townships and IT parks. Recently, Nitesh Estates bagged a Rs 100-crore residential project from ITC Ltd, the release added.

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