AMRL to invest Rs 800 cr in multi-product SEZ

AMRL International Tech City, a joint venture of Hyderabad-based AMR Constructions Ltd and Tamil Nadu Industrial Development Corporation Ltd (Tidco), is planning to invest around Rs 800 crore for creating a multi-product special economic zone (SEZ) in Tamil Nadu.

Speaking to Business Standard, U Shiv Prakash, chief executive officer, AMRL International Tech City, said the proposed SEZ was notified on November 18. It would come up on 2,500 acres at Nanguneri taluk in Tirunelveli district.

The proposed SEZ, the first multi-product SEZ in the state, is expected to attract investments to the tune of Rs 15,000 crore and would generate 70,000 jobs.

In the first phase, laying of roads have started and other construction works are expected to begin in January 2009. The SEZ will be ready in 3-4 years and will support multi-product sectors including engineering, auto components, pharmaceuticals, electronics and hardware, bio-technology, IT and ITeS, textiles and logistics, said Prakash.

AMRL International has already signed MoUs with two companies, including a West Asia-based engineering company, for setting up a manufacturing facility.

While AMR Constructions holds over 70 per cent stake in the joint venture, Tidco has a 1 per cent stake.