Special Economic Zone (SEZ)

GVK ties up with TIDCO for multi-product SEZ in Perambalur

GVK has entered into a joint collaboration with Tamil Nadu Industrial Development Corporation Limited (TIDCO), an undertaking of the Government of Tamil Nadu to develop a multi-product Special Economic Zone (SEZ) in Perambalur district.

The SEZ will spread over an area of 3,000 acres and will cater to industries such as Textiles / Garments, Leather, Engineering goods, Pharmaceuticals, Power, IT / ITES, Iron & Steel, Fertilizers, Chemicals, Petrochemicals, Floriculture, Horticulture, Electronics & Communication etc.

The project is being implemented through a Special Purpose Vehicle (SPV) company, GVK Infratech Pvt. Ltd., a wholly owned subsidiary of GVK Power & Infrastructure Ltd (GVKPIL).

The collaboration which is a model public-private partnership initiative is aimed at creating state-of-the-art infrastructure and facilities for industrial development. The decision to partner with Tamil Nadu is based on ample opportunities that the State offers. This would go a long way in consolidating Tamil Nadu's position as one of the leading industrial States in the country.

The project has received an in-principle approval from the Board of Approvals (BOA) of the Union Ministry of Commerce and is expected to attract investments of about Rs 5,000 crore over a period of seven years. The project will create new employment opportunities for more than 50,000 people in the region and generate expected annual export earnings of around Rs 6,000 crore.