CHENNAI: Sri City (P) Limited launched a multi-product special economic zone (SEZ) near Tada (border of Andhra Pradesh and Tamil Nadu).
Sri City SEZ, which spreads over 5,000 acres with a development investment of Rs. 1,000 crore will come up under public-private project model. It will house both manufacturing and information technology industries. A domestic tariff area will also be developed adjacent to the SEZ.
Sri City was founded by Ravindra Sannareddy, a non-resident Indian, in functional partnership with the Andhra Pradesh Government.
Addressing a press conference here on Wednesday, Mr. Sannareddy, Chairman, Sri City, said the development of the project would be completed in phases over five years with an initial investment of Rs. 1,000 crore.
The Minister for Major Industries, Sugar, Commerce and Export Promotion, Andhra Pradesh, J. Geeta Reddy, said that her government would give support for this SEZ and ensure that it would be developed into a world-class infrastructure.