Business Daily from THE HINDU group of publications
Tuesday, Apr 17, 2007
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Business Daily from THE HINDU group of publications Tuesday, Apr 17, 2007 ePaper |
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New Business Info-Tech - Infrastructure States - Andhra Pradesh Lanco gets approval for SEZ Our Bureau
Hyderabad April 16 The Lanco group has received clearance for the proposed $1-billion IT special economic zone (SEZ) planned near Hyderabad. Lanco Hills Technology Park has been notified as SEZ by the Ministry of Commerce & Industry, Department of Commerce, and has come into effect from April 10. The Hyderabad-based Lanco group has conceptualised this as a sector specific SEZ for IT and IT-enabled Services slated to come up at Manikonda Village, Gachibowli, Rajendranagar Mandal, Ranga Reddy district in Andhra Pradesh.
PROJECT PLAN
The SEZ would be spread over 25 acres and the proposal is to develop over five million square feet of space for IT companies. The developers have also proposed to have IT and commercial space of 2.5 million square feet outside the SEZ area. The Lanco Chairman, Mr L. Madhusudhan Rao, in a statement said, "The sanction is recognition of Lanco's credentials and track record in creating global scale landmarks in all areas of Infrastructure. We are pleased with the confidence shown in us by Government and private companies in awarding us challenging assignments." Christened Lanco Hills, this envisages mixed use development with investment of over $1 billion (about Rs 4,500 crore) and constitutes space for IT companies, modern living space, malls, luxury hotel and service apartments.
More Stories on : New Business | Infrastructure | Andhra Pradesh
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