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L&T, Arun Excello to develop IT Park

Special Correspondent

IT SEZ ESTANCIA to come up on 27 acres with 2.70 m sq. ft. built up space

CHENNAI: Larsen & Toubro and Arun Excello, on Thursday, announced that they would develop an IT park as part of its proposed integrated township at Vallancheri on the GST Road near here.

Addressing a press conference here, P. Suresh, Managing Director, Arun Excello, said the proposed park had been given the SEZ (special economic zone) status and it had since been notified.

The IT SEZ, ESTANCIA, would come up on 27 acres within the proposed township. The park would have a total built up space of 2.70 million sq. ft.

The IT SEZ would involve an investment of around Rs. 600-700 crore.

The total investment in the proposed integrated township (including the IT park) would be around Rs. 1,500 crore. Besides housing the IT SEZ, the township would comprise residential apartments and retail space. K. Venkatesh, Executive Vice-President, L & T, said the IT SEZ would be spread over eight blocks, each ranging from 2.50 lakh sq. ft. to 4.50 lakh sq. ft. The project would come up in two phases.

Phase I of the project would consist of a signature tower of 3.30 lakh sq. ft. and two built-to-suit blocks of 4.50 lakh sq. ft. each along with common infrastructure such as approach roads, lighting and drainage.

The signature tower would be for multiple users. Work on the construction of the project would commence in August, they said. The ESTANCIA IT SEZ would be designed, engineered and constructed by L&T.

Mr. Suresh claimed that ESTANCIA IT SEZ would be the first of its kind in Chennai where an SEZ would come alongside a residential and commercial/ retail zone within an integrated township.

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