Business Daily from THE HINDU group of publications
Thursday, Aug 21, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Thursday, Aug 21, 2008 ePaper | Mobile/PDA Version | Audio |
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Outlook Info-Tech - Infrastructure Ansal to invest Rs 3,600 cr in IT SEZs Our Bureau New Delhi, Aug. 20 Real estate-company Ansal API said it will invest Rs 3,600 crore in developing six IT Special Economic Zones and Parks, spread over 270 acres. “These SEZs are aimed at growing IT and ITES companies who are choosing to set up centres in adjoining areas of tier 1 cities in view of the global economic pressure to reduce costs and maximise returns. Ansal API SEZs will offer them the best value for money,” Mr Pranav Ansal, Vice Chairman and Managing Director Ansal said. “We will be investing Rs 3,600 crore in developing six IT SEZ and parks in different States. Construction for some of the projects has already commenced and they are expected to be completed in the next five to seven years,” Ansal IT City & Parks Ltd Senior Vice-President (Retail & SEZ) Mr Rajeev Dayal said. The IT SEZs, under the brand name ‘The Campus’, would come up in Greater Noida, Gurgaon, Lucknow and Khapoli (near Mumbai), while the two parks, under the brand name ‘Net City’, would be constructed in Lucknow and Noida, he informed. On the source of funding, Mr Dayal said: “About Rs 1,000 crore will be invested from our side through a mix of equity and debt in the ratio of 1:3. The remaining amount will be raised from various private funds by equity dilution at the projects.” More Stories on : Outlook | Infrastructure | Real Estate & Construction
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