Fashion city coming up in Puducherry
Construction work on the Rs 3,000-crore Fashion City in Puducherry, being promoted as a SEZ for the fashion industry, is expected to start in about 30-45 days.
By D Govardan, TNN |
CHENNAI: Construction work on the Rs 3,000-crore Fashion City in Puducherry, being promoted as a SEZ for the fashion industry, is expected to start in about 30-45 days.
With Jurong of Singapore designing the SEZ, the construction process is likely to be completed in about 12-18 months, enabling the units to start operations. Meant to cater to all segments of fashion industry from apparel to accessories to leather garments, the SEZ will have an IT Park and a large residential township.
"When fully operational, the SEZ is likely to provide employment to over 1.5 lakh people. This project, along with the port, which we are developing in the Union Territory, will lead to a big surge in the per capita income of the people in the region," Subhash Group chairman Mr Anil Sethi told ET.
Pipdic, the government promotional ageny, has offered to pick up 26% equity stake in the project. Subhash Group and Ohm Metal have also joined hands to promote a 25 million tonne cargo port, including a container terminal, in the territory. The eco agency, Neeri began its study on the environmental impact assessment (EIA) for the project early this month.
Mr Sethi said the company has been allotted 860 acres and it has received approvals. The SEZ will have 'plug and produce' factory sheds, tech park, fashion educity, fashion trade centre and a large furniture mart, besides a logisticity, which will handle logistics requirement of the units. About 36 acres have been set aside to promote an IT campus on 2.25 lakh sq metre.
"We also intend to promote close to 15,000 residential units for employees in the SEZ," Mr Sethi said.
With Jurong of Singapore designing the SEZ, the construction process is likely to be completed in about 12-18 months, enabling the units to start operations. Meant to cater to all segments of fashion industry from apparel to accessories to leather garments, the SEZ will have an IT Park and a large residential township.
"When fully operational, the SEZ is likely to provide employment to over 1.5 lakh people. This project, along with the port, which we are developing in the Union Territory, will lead to a big surge in the per capita income of the people in the region," Subhash Group chairman Mr Anil Sethi told ET.
Pipdic, the government promotional ageny, has offered to pick up 26% equity stake in the project. Subhash Group and Ohm Metal have also joined hands to promote a 25 million tonne cargo port, including a container terminal, in the territory. The eco agency, Neeri began its study on the environmental impact assessment (EIA) for the project early this month.
Mr Sethi said the company has been allotted 860 acres and it has received approvals. The SEZ will have 'plug and produce' factory sheds, tech park, fashion educity, fashion trade centre and a large furniture mart, besides a logisticity, which will handle logistics requirement of the units. About 36 acres have been set aside to promote an IT campus on 2.25 lakh sq metre.
"We also intend to promote close to 15,000 residential units for employees in the SEZ," Mr Sethi said.
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The initial development cost for the SEZ has been pegged at around Rs 3,000 crore and will be funded through a mix of debt and equity. "While a part of the equity will come from us (promoters), the rest will come from co-developers of IT Park, residential space and logistic-ity," he added.Download
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