ETA STAR Property developers signs MoU with TN govt
ETA STAR Property Developers Ltd, a group company of Dubai-based ETA Ascon, on Friday signed an MoU with the Tamil Nadu government to set up a Special Economic Zone for IT and an integrated township in Kancheepuram district at an estimated cost of...
By PTI |
CHENNAI: ETA STAR Property Developers Ltd, a group company of Dubai-based ETA Ascon, on Friday signed an MoU with the Tamil Nadu government to set up a Special Economic Zone for IT and an integrated township in Kancheepuram district at an estimated cost of Rs 3,750 crore.
The agreement for Joint Venture was signed between ETA Ascon Group Chairman Syed M Salahuddin and Tamil Nadu Industrial Development Corporation (TIDCO) Chairman and Managing Director S Ramasundaram in the presence of Chief Minister M Karunanidhi.
The project would be implemented over a three year period to create space to an extent of 175.30 lakh square feet for apartments, row houses, bungalows, shopping mall, car park, hospitals, schools, hotels and service apartments in an area of about 350 acres.
This would include IT and ITES SEZ in an area of about 50 acres and would provide employment to around 50,000 people, an official release here said.
The entire land for the project had been privately purchased by the ETA Group and no land acquisition by the government was required, the release added.
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