The Hindu Business Line : Nuziveedu Seeds will promote Rs 1,500 cr SEZ near Chennai

Chennai April 6 Nuziveedu Seeds Ltd, a Secunderabad-based company, is to promote a Rs 1,500-crore special economic zone for IT, ITES and biotechnology companies near Chennai.

According to an official press release, Nuziveedu Seeds entered into an agreement with the Tamil Nadu Government to promote the project.

The agreement was signed in the presence of the Chief Minister, Mr M. Karunanidhi, here on Friday, between Mr M. Prabhakar Rao, Managing Director of Nuziveedu Seeds and Mr S. Ramasundaram, Chairman and Managing Director of Tamil Nadu Industrial Development Project.

A special purpose vehicle, Zillion Estates Ltd, promoted by Nuziveedu Seeds as the main promoter, and Tidco will implement the project. Tidco will also facilitate the clearances for the project.

Mr Rao told presspersons that the SEZ — Chennai Cyber City — would come up at Sholinganallur, on the IT Corridor. The company has acquired 66 acres of land, where it will construct the 46-lakh sq ft IT park, along with a residence area of 21-lakh sq ft and a hotel, and retail space of about 4-lakh sq ft.

The SEZ will be an environment friendly structure with water recycling, green power from windmills and an energy efficient building, he said.

International consultants Ernst & Young did the feasibility for the project. Assetz Property Services Pvt Ltd is to assist the promoters in planning through construction and marketing. The US-based HOK Planning Group are the designers for the project.

Nuziveedu Seeds has diversified interests, including in textiles, in which it has invested over Rs 1,000 crore, sugar and cogeneration, and IT parks development. It has a six-lakh sq ft IT park in Bangalore, and is setting up two SEZs in Hyderabad and one in Delhi.

More Stories on : Infrastructure | Diversification | Seeds | Tamil Nadu

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Mobility here and now is the buzzword

SMB spend on telecom gear, services rises 5%

Nuziveedu Seeds will promote Rs 1,500 cr SEZ near Chennai

ISB grad teams hired to float new businesses

`Growth in IT, ITES sectors driving job market'

Cisco drafts new plans for small, medium business

Satyam results on April 20

Harish is Nipuna's new global head