Maytas launches Rs 2500cr IT SEZ

Maytas Properties Limited, a Hyderabad-based property development company, on Thursday launched its first IT/ITeS special economic zone (SEZ) at its flagship 376-acre integrated township "� Maytas Hill County "� on the outskirts of Hyderabad.

The 74-acre SEZ, which would offer a walk-to-work lifestyle besides the flexibility to opt for built-to-suit solutions, would have both independent and multi-tenant buildings with scope for future business expansion plans of companies.

Addressing mediapersons here on Thursday, Sanjay Chawla, business head (commercial and SEZ), Maytas Properties, said the company will invest Rs 2,500 crore in the SEZ project in the next eight to 10 years with a debt-equity ratio of 70:30.

"The first phase of the project, involving a built-up area of 1.3 million sft, will be completed by October-December 2009. The debt-equity ratio will change as we would plough back some more equity once we move to the next phases," he said.

Maytas has set up a fully-functional 60,000-sft incubation space for early occupation, giving clients a head-start in their business prior to their office spaces readied for occupation. The company has signed up its first client "� Wells Fargo India Solutions "� which has already occupied one-fourth of the incubation space.

Chawla said the LEED (Leadership in Energy and Environmental Design) gold-rated IT SEZ would be developed in five phases with a total built-up area of 8 million sft, which will be completed in eight to 10 years from now. "Once completed, the SEZ will accommodate 80,000 people," he said.

The company has notified two more SEZ sites in Hyderabad at Gopannapally and Mysamguda, where it plans to build a nine-million sft of LEED gold-rated SEZ space.