SBI, Tata Communications to set up operations in GIFT City

Letters of Allotment have been handed over to the companies

World Trade Centre (WTC),  State Bank of India and Tata Communications will be setting up units at Gujarat International Finance Tec-City (GIFT) in Gandhinagar. The Letters of Allotment (LOAs) were today handed over to these companies coming up at GIFT City, the pet project of Gujarat Chief Minister Narendra Modi.

Modi handed over LOAs at the national summit on “Financial Services – A Key Driver for Economic Growth” which was organised by Federation of Indian Chamber of Commerce and Industry (FICCI), Indian Merchant Chambers (IMC) and GIFT in the state capital.

WTC Noida Development Company Pvt. Ltd. will develop Gujarat’s first World Trade Centre at GIFT city at an approximate cost of Rs 600 crore. It is also expected to connect businesses around 343 locations worldwide. Country's largest lender State Bank of India is likely to set up a commercial tower at an estimated investment of Rs 150 crore.

A skill development and training centre, spread across 0.2 million square feet, to be set up by Global Insurance Services (India) Private Ltd at an estimated investment of Rs 100 crore, will provide training in the areas of insurance and allied activities.

Tata Communications, among one of the leading service providers of telecommunication services,  will come up with a green data centre while iPlex will also set up its operations in GIFT.