TRIL Infopark, a Tata Group company has started work on its IT SEZ and convention centre in Chennai. TRIL Infopark is a JV between the Tata Group companies, Tata Realty and Infrastructure, Indian Hotels Company and Tata Realty Initiative Fund - 1 and the Tamil Nadu Industrial Development Corporation.

The total project cost is estimated at Rs 3,600 crore including the land cost of Rs 1,400 crore. The company is expected to finance the project through a mix of equity (20 per cent), internal accruals and lease deposits (15 per cent), mezzanine debt and senior debt (26 per cent).

The proposed project spread over 3 million sq. ft. of land comprises IT SEZ, convention centre, luxury hotel, residential and retail facilities. The IT SEZ and related facilities, including the residential facilities are expected to set up first. An incubator facility is likely to be ready by end-2009 and the total project is likely to be completed in next 18 months. The IT SEZ has been accorded the environment clearance from the nodal agencies.