The new SEZ will be called Estra IT SEZ and it come up on an area of 4.5 million square feet. The first phase of the construction work on 11 lakh square feet is likely to finish before 2009, while work on the second phase will be completed in 2012.
Speaking to reporters in Chennai on Thursday H S Rattha, chairman, Rattha Group, said the company will fund the project through 70 per cent debt and 30 per cent equity.
He added, the new SEZ will generate employment opportunities for over 50,000 professionals.
Spread over 26 acres in the city, the proposed SEZ will be a multi-tenanted green building that will also offer multi-storeyed car parking to cater of over 15,000 cars and 100-room service hotel.
