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Business News/ Opinion / Online-views/  India’s Tata Realty arm to build IT park
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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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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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Published: 28 Apr 2008, 03:36 PM IST
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