The value of software exports from the Tiruchi region will increase several-fold from the existing Rs. 26.21 crore per year with the inauguration of the IT Park of ELCOT at Navalpattu, Deputy Chief Minister M.K. Stalin said on Thursday.

Four companies were allotted 10,000 out of the 50,000 square feet IT-cum-administrative building that Mr.Stalin declared open in the presence of State Ministers K.N. Nehru, Poongothai Aladi Aruna, S. Selvaraj, and Tiruverumbur MLA K.N.Sekaran.

Development works valued at Rs. 15 crore out of the Rs. 60 crore planned for investment had been completed by ELCOT in the IT Park, with the status of Special Economic Zone, spread over 147.61 acres. Nine companies had been sanctioned 37 acres for developing their facilities.

In the next five years, the IT Park would attract investments worth Rs. 800 crore creating 20,000 direct employment and 40,000 indirect employment opportunities, Mr. Stalin said.

Second position

He attributed Tamil Nadu's rise to occupy the second position in the country in software and hardware exports to the comprehensive IT policy devised by Chief Minister M. Karunanidhi in 1996.

Handing over the revolving fund to 1,011 SHGs on the occasion, he said having fulfilled all its poll promises, the DMK was now implementing new projects with the objective of reaching out to all irrespective of party affiliations.