TATAS TO INVEST OVER RS. 3000 CRORES IN CHENNAI ALONG WITH TIDCO

• Tamil Nadu Industrial Development Corporation Limited (TIDCO) and Tata Realty and Infrastructure Limited (TRIL) & The Indian Hotels Company Limited (IHCL) have agreed to jointly develop a state of the art Information Technology Special Economic Zone (IT SEZ) on 25.27 acres at Taramani, in Chennai's IT hub on Rajiv Gandhi Salai (Old Mahabalipuram Road), at an estimated cost of Rs. 3000 crores.
  
  
• The project will include an International Convention Center along with a 5 star Hotel / Service Apartments. When completed, the project is expected to generate direct employment to over 40,000 persons and indirect employment to 15,000 persons.
  
  
• The project will be implemented in two phases, with the first phase of 2.3 million sft being ready by end 2009. The entire project of around 4.00 million sft would be completed by the end of 2011.
  
  
• TRIL is a new enterprise of Tata Sons Limited, the holding company of the TATA Group. It has embarked on a number of large projects for real estate and infrastructure development
  
  
• The JV agreement for the IT SEZ at Taramani was signed by Thiru S. Ramasundaram, lAS, Chairman and Managing Director TIDCO and Thiru R.K. Krishnakumar, Chairman, Tata Realty and Infrastructure Limited (TRIL) & Vice – Chairman, Indian Hotels Company Limited (IHCL) in the presence of Hon'ble Chief Minister, Dr. Kalaignar M. Karunanidhi.
  
  
• Thiru L.K. Tripathy, lAS, Chief Secretary, Thiru M.F. Farooqui, lAS, Secreatry, Industries Department, Thiru Phillie Karkaria, Executive Director, Tata Realty And Infrastructure Limited, Thiru Kishore Saletore, CFO, Tata Realty And Infrastructure Limited, Thiru Sumit Guha, Vice President-Business Development, Indian Hotels Company Limited (IHCL), Thiru Sankar Parmeswaran, Vice President-Legal & Company Secretary, Indian Hotels Company Limited (IHCL), were also present.