The Hindu Business Line : ETA Star ties up with TN for township project

PACT WITH TIDCO: Mr S. Ramasundaram, CMD of TIDCO, exchanging documents of an MoU with Mr Syed M. Salahuddin, Managing Director, ETA Ascon, Dubai, in the presence of the Tamil Nadu Chief Minister, Mr M. Karunanidhi, in Chennai. At right is Mr Ibrahim Al Ghurair, Director of ETA Ascon. — S.R. Raghunathan

Chennai May 25 ETA Star Property Developers Ltd has entered into an agreement with the Tamil Nadu Industrial Development Corporation Ltd (TIDCO) to set up a special economic zone for information technology and an integrated township near Chennai.

According to an official press release, the joint venture company, ETA Startech City Pvt Ltd will invest Rs 3,750 crore for the 350-acre township with a 50-acre IT-SEZ to come up in neighbouring Kanchipuram district.

ETA Star is a part of the Dubai-based ETA Ascon, a Rs 16,000-crore group with interests in civil construction, infrastructure, real estate, shipping, automotive industry and building maintenance.

The project is to be implemented over three years with 175.30 lakh sq ft of built up space in the township with apartments, row houses, bungalows, shopping mall, car park, hospitals, schools, hotels and service apartments. The IT-SEZ will generate over 50,000 jobs.

More Stories on : New Projects | Real Estate & Construction | Tamil Nadu

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