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Jul 14, 2009

KGISL to invest 600 Cr in SEZ !


Hi-Tech Infrastructure Private Limited, promoted by Coimbatore-based KG Information Systems Limited (KGISL), plans to invest around Rs 600 core over the next two years in building a township at a special economic zone (SEZ), the first SEZ for IT and ITeS sectors being developed at Saravanampally in Coimbatore.

Speaking to Business Standard, KGISL managing director, Ashok Bakthavathsalam, said the company was developing the SEZ on 150 acre, of which 65 acre had already been allotted to Robert Bosch India, Cognizant and Perot Systems. Bosch is setting up a research and development centre in the SEZ with an investment of around Rs 250 crore.

Bakthavathsalam said the SEZ was expected to attract investments to the tune of Rs 2,000 crore and generate employment to about 15,000 people over the next two years. “KGISL alone will invest around Rs 600 crore in the SEZ, which will be funded through a mix of internal accruals and debt,” he said.The company is planning to set up a budget hotel, 400 affordable houses and a hospital to supplement the upcoming industries in the SEZ, he said, adding that the company is open to join hands with private partners to promote the township.


“The SEZ will also help other industries to grow in this region. For instance, Robert Bosch facility will not only create additional job opportunities in Coimbatore, but will also benefit the manufacturing sector in and around Coimbatore as Robert Bosch is looking for partners to bring complimentary strengths to what it does,” Bakthavathsalam.

Coimbatore, he said, will be the right destination for IT and ITeS companies, which are currently passing through rough times. A business process outsourcing (BPO) company, which will operate out of Coimbatore, can save up to $200 per seat a month when compared to Delhi or other major metros.“Moreover, there are about 40 engineering colleges and 80 arts colleges, which are producing about 150,000 students every year. Availability of human resources is the biggest advantage.The establishment of the SEZ will also benefit the adjoining villages with the creation of non-IT jobs,” he said.

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