Date:28/11/2005 URL: http://www.thehindubusinessline.com/2005/11/28/stories/2005112800920500.htm

Back W.S. Industries pact with TCG for IT Park in Chennai

Nina Varghese
M. Ramesh

Chennai , Nov 27

THE Chennai-based W.S. Industries (India) Ltd has joined hands with The Chatterjee Group of Kolkata to develop a 1 million sq ft IT park, the Managing Director of the company, Mr Murali Venkatraman, told Business Line here.

The developers have filed an application with Chennai Metropolitan Development Authority (CMDA), he said.

W.S. Industries manufactures porcelain insulators for use in transmission of electricity. Its plant is located at Porur in Chennai. Thanks to a rationalisation of the factory layout, the company was able to save land, which is now being used for the IT park.

The project is to be implemented in two phases, with 250,000 sq ft coming up in Phase-I, Mr Venkatraman said. He did not wish to disclose the investment in the project, but industry sources said that a one million sq ft park would cost around Rs 150 crore.

The IT park will come up on the Chennai-Bangalore national highway, just outside the city limits. According to real estate industry sources, there is a growing demand for quality IT space in the area, what with the Old Mahabalipuram Road getting crowded and land prices shooting up.

Larsen & Toubro's IT subsidiary has a centre on the stretch, just adjacent to L&T ECC office. DLF of Delhi has acquired a 40-acre plot on that stretch where it plans to put up an IT park that will ultimately cover 4 million sq ft.

According to the real estate industry sources, this area is close to the airport, in the vicinity of star hotels on the GST Road.

Besides, it is also within easy commuting distance of a number of residential suburbs.