The Tamil Nadu government has identified a 187-acre site for setting up a financial city and media entertainment park, with an investment of over Rs 10,000 crore.
The site is located in Sholinganallur and Perumbakkam villages of Rajiv Gandhi Salai, also known as IT corridor. A consortium led by PricewaterhouseCoopers Private Limited (PWC) has been appointed as consultants for preparation of comprehensive development plan.
Tamil Nadu Industrial Development Corporation (Tidco) would finalise the reports in consultation with the government, and tenders would be floated for selection of developer / joint venture partner for developing the first phase of the financial city project over an area of 25 acres, industries minister SP Velumani said. The proposed project would involve investments worth around Rs 10,000 crore.
The troubles for the Indian banking system are likely to increase in the next 12 months due to slow economic growth and sluggish fiscal reforms. ...
India had blocked the deal in late July over food subsidies