Nitesh Estates to set up SEZ in Mangalore

Nitesh Estates, the real estate division of the Bangalore-based Nitesh Group, has rolled out its plan to set up a two-million square feet special economic zone (SEZ) at Ganjimutt in Mangalore.

According to Vaidyanathan, director-operations, Nitesh Estates: "The port town of Mangalore is fast evolving as a major IT/ITeS and BPO destination, with major international investors and global corporations looking at the city as a hub for varied business. This roll-out is in keeping with the Karnataka government's strategy of developing tier II cities as IT/ITeS hubs."

"The project is designed to offer work spaces to the tune of two million square feet. The SEZ will also provide space for a training centre, R&D, support infrastructure like housing for employees and other critical infrastructure," he added.

The Nitesh Estates Mangalore SEZ is estimated to be completed by early 2009 and is expected to provide employment to over 10,000 people in the region.