Second IT complex to come up in Chennai

CHENNAI: The Tamil Nadu Industrial Development Corporation (TIDCO) has signed

a Memorandum of Understanding with Singapore's Ascendas (India) to set up an IT

complex in Chennai (in addition to the TIDEL Park). A wholly owned subsidiary of

the Singapore Government promoted by Jurong Town Corporation, Ascendas, will be

in charge of implementing the project, which would include managing it and

assisting the Special Purpose Vehicle to support its financing as well as act as

the lead-marketing agent.






Forty acres of land has been allotted by the Tamil Nadu Government for the
development of this IT complex. This new complex comes very much adjacent to the

TIDEL Park in Taramani. The project will at the first phase involve the

development of about five lakh sq. feet and finally 10 lakh sq. feet in an

investment of Rs 400 crore.






Tamil Nadu chief minister, J Jayalalithaa who witnessed the signing of the MoU
gave her courtesy to the company in taking interest in the State and asked them

to take up special projects in Coimbatore, Madurai and Tiruchi too. The company

is also pondering a proposal to set up a bio-tech park in Chennai.