Lanco to develop IT, ITeS SEZ

Lanco Hills Technology Park Private Limited, a project being developed by the Lanco group at Manikonda village near Hyderabad, has been notified as a special economic zone (SEZ) by the Union ministry of commerce and industry.

The sector-specific SEZ for information technology and IT-enabled services is spread over 25 acres with 5 million square feet of IT space. Lanco is also developing 2.5 million sft of IT/commercial space outside the SEZ area. The total cost of the project is estimated at Rs 5,000 crore and is expected to be completed over a period of four years.

"The (SEZ) sanction is a recognition of Lanco's strong credentials and unique track record of creating global scale landmarks in all areas of infrastructure," Lanco chairman, L Madhusudhan Rao, stated in a press release here on Monday.