Ansal Properties & Infrastructure has revived its plans to develop an IT special economic zone (SEZ) in Greater Noida.

The company is planning to invest Rs 130 crore over the next three years for construction of a 75 acre IT SEZ. The proposed investment will be utilised for further development of eight lakh sq ft, taking the total built-up area to 10 lakh sq ft by 2016-17. The investment will be made jointly by Ansal group and co-developer, Earth Infrastructure.

The proposed project was notified by the Ministry of Commerce & Industry in 2006, but the company was slow in developing the project due to a global economic slowdown.

It has already invested about Rs 130 crore to acquire the land, physical infrastructure and construction of two lakh sq ft area in this SEZ. The two units have already started operation in the SEZ and the company is expected to lease out the entire two lakh sq ft and start the operation of 10 units during FY15.

About 65 per cent of the area in this SEZ has been kept for the processing zone and another 35 per cent for the non-processing zone.

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