The government has extended till May the letter of approval (LoA) given to two proposed IT/ ITES Special Economic Zones being developed by Electronics Corporation of Tamil Nadu (ELCOT) in Madurai and Hosur, as the developer has expressed its intention to operationalise both zones by then.
“Six companies including HCL, Satyam (Mahindra) and Chain-Sys Software have already acquired land in the SEZ in Vadapalanji, Madurai, and the Board of Approval’s (BoA) decision to extend the validity of the LoA till May 7 keeps alive their dream of setting up their units in the zone,” an official told BusinessLine.
HCL, for instance, is planning to develop the 60 acres of land allotted to it in the SEZ by constructing an IT building over 10 lakh sq ft, in the next three to five to five, according to inputs submitted to the BoA by the developer.
This story is from the January 11, 2020 edition of The Hindu Business Line.
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This story is from the January 11, 2020 edition of The Hindu Business Line.
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