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India’s Tata Realty arm to build IT park

India’s Tata Realty arm to build IT park
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First Published: Mon, Apr 28 2008. 03 36 PM IST
Updated: Mon, Apr 28 2008. 03 36 PM IST
Reuters
Mumbai: India’s Tata Realty and Infrastructure Ltd, a subsidiary of Tata Sons Ltd, said on 28 April it had entered into an agreement with the southern state of Tamil Nadu to build a special economic zone for information technology.
The project, which will see an investment of more than 30 billion rupees ($750 million), will include a convention centre and a luxury hotel and serviced apartments that will be built in a joint venture with Indian Hotels Co Ltd <IHTL.BO>, another Tata group company, it said.
The first phase of the 4 million sq ft-zone will be completed by end-2009, with the entire project ready by 2011, it said.
Special economic zones are large tax-free industrial enclaves created to boost industrial and export growth.
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First Published: Mon, Apr 28 2008. 03 36 PM IST