VELANKANI GROUP TO SET UP RS 13 BN SEZ IN SRIPERUMBUDUR

Chennai
The Economic Times

Bangalore-based Velankani Technology Parks Ltd, a Velankani group company, announced Wednesday that it will invest Rs.13 billion to develop an electronic hardware manufacturing and IT enabled services (ITES) special economic zone (SEZ) at Sriperumbudur, near here.

The project, to be set up in 250 acres, would house about 30 global component suppliers.

The first building will be ready by next month as the entire project is expected to be completed by 2012.

The park will primarily meet the business needs of the telecom players.

Velankani Park managing director Kiron Shah said the park was the only SEZ that would offer a plug and play facility in Sriperumbudur for companies to have a hassle-free experience in starting operations.