The Hindu : Tamil Nadu News : IT park work to start next month

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Tuesday, Jul 03, 2007
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Tamil Nadu

Tamil Nadu

IT park work to start next month

M. Soundariya Preetha

Coimbatore: The Electronics Corporation of Tamil Nadu (ELCOT) is hopeful of starting the field work for the construction of the Tidel Park here next month.

Its Managing Director, C. Umashankar, told ‘The Hindu’ that though it planned initially to have about 12 lakh sq.ft at the park, the corporation now looked at increasing it to 15 lakh sq.ft. It already had companies confirming occupation of totally six lakh sq.ft. of built up area.

“The total project cost is about Rs. 300 crore and we will have to first complete the financial closure,” he said. Of this, about Rs. 150 crore would be through loans from banks.

“The project is on time. We had said we will start the works in August this year and hand over the office space to the companies by November 2008,” he said. Foundation for the park was laid in February and works were going on according to schedule. The ELCOT would complete the financial closure and then call for and finalise the companies that would occupy space at the Tidel Park.

Along with this a three to 3.5-km six-lane road would also come up in the park at a cost of Rs. 12 crore. The road work would also start next month. Architects had already given the designs for the park and the road.

The Park was coming up on a 56-acre plot near the Coimbatore Medical College here. Three Information Technology (IT) majors would set up separate facilities at the IT park apart from the Tidel project. The four facilities together were expected to generate 30,000 to 35,000 jobs. The total investments on the land and buildings alone were expected to be around Rs. 1,200 crore.

The corporation has also earmarked 12 acres for social infrastructure such as houses, commercial complex and school at the park, he said.

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