The Hindu : Business : Rattha to develop IT SEZ

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Friday, Apr 25, 2008
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Business

Rattha to develop IT SEZ

Corporate Reporter

CHENNAI: Rattha Group, a leading business conglomerate with interests in exports, infrastructure and hospitality, announced its plans for a major IT SEZ (special economic zone) in Porur, near here called Estra IT SEZ.

Addressing presspersons here on Thursday, Harbinder Singh Rattha, Vice Chairman, Rattha Group, said the project would come up in 4.5 million sq. ft. involving an outlay of Rs. 1,750 crore.

This will bring Rattha’s property portfolio to 6.5 million sq. ft as the group had IT parks along the IT corridor in Chennai.

The first phase of the project, comprising 11 lakh sq. ft. would be ready for occupation by December next year and the whole project would be completed by 2012, Mr. Rattha said. Spread across 26 acres, the SEZ would offer a fully integrated business environment complete with lifestyle amenities, including multi-level car parking to accommodate 15,000 cars and 100-room service hotel.

H. S. Rattha, Chairman of the group, said there was growing demand for world-class business space in Chennai and the group, through such projects, would contribute to the development of Chennai.

According to C. Velan, Chief Executive Officer, Infrastructure Division, the master planning for the SEZ was being done by world renowned architects HOK from the U.S.

The project after completion would provide employment opportunities for over 50,000 professionals, Mr. Velan said.

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