Tidel Park Likely To Be Delayed
Commissioning of the Tidel park on Avanashi Road here is likely to be delayed by at least four months, with civil works yet to commence. The Electronics Corporation of Tamil Nadu (ELCOT) had finalised the contract for civil works for 1.7 million square feet of built-up area. The works were scheduled to start in June and get over by December this year. However, with the construction rates going up, the contractor did not take up the works, seeking an increase in the cost. The ELCOT has floated tenders again, and it will take at least a month to finalise the new contract, according to ELCOT Managing Director C. Umashankar.He told that the estimate was Rs. 173 crore. “We expect an escalation in the project cost, with the construction costs going up.” Mr. Umashankar was confident that the project would progress faster with the commencement of civil works. The Corporation had finalised contracts for electrical works. Meanwhile, the ELCOT has identified 500 acres for another park here and is scouting for a joint venture partner. “The land has been identified close to the city, and we are looking for a joint venture partner,” he said. This would also be a special economic zone housing hardware and software companies.
