CCCL forms JV with TN govt for SEZ on food processing

Consolidated Construction Consortium  today entered into a joint venture with Tamil Nadu Industrial Development Corporation for setting up a Special Economic Zone on Food Processing in Tuticorin District.

CCCL Infrastructure Ltd (CIL) Chairman R Sarabeshwar and Industries Secretary and TIDCO Chairman Rajeev Ranjan exchanged documents in the presence of Tamil Nadu Deputy Chief Minister M K Stalin, an official release here said.

As per the JV, CIL would provide the infrastructure facilities for the SEZ at an estimated cost of Rs 550 crore on the 425 acre land in Tuticorin district, it said.

The SEZ would attract investments to the tune of Rs 2,500 crore and provide direct and indirect employment to around 10,000 people, it said.

The city-headquartered company said it has secured orders for over Rs 4,500 crore, to be executed over a period of 18 months as of June 2010. Last month alone the company had bagged orders worth Rs 1,218 crore it added.