Sri City looks to break even in 5 years

Sri City, a planned integrated business city at Tada near Nellore, is expecting to reach the break even point in the next five years, according to Raghini Peter, senior vice-president (business development), Sri City. “We have already signed agreements with  63 companies across sectors, of which around 25 are operational, 18 are under various stages of construction while the remaining are on the drawing board stage. We hope to have 400 companies at the multi-product special economic zone (SEZ) in the next five years, which will give us the scale to break even,” she said. Peter was speaking to Business Standard on the sidelines of the Partnership Summit 2012. Sri City has a landbank of 10,000 acre at Tada, of which it has already developed 3,000 acre as part of Phase-I (6,000 acre). She said the company was looking at developing the complete 10,000 acre in the next seven years, involving a total investment of over Rs 2,000 crore with the equity component being 50 per cent.

“We have received serious enquiries from various companies, of which 20 are in final stages,” she said.