Work on the Nanguneri SEZ about 80 km from the Tuticorin port in Tamil Nadu
is finally to take off.
AMRL International Tech City- a JVof AMR Group of Hyderabad and Tamil Nadu
Industrial Development Corporation - has taken up 300 acre for development in
Phase I. While the processing zone is to sprawl over 1,730 acre, the
non-processing zone is to be developed over another 790 acre in phases.
The company has infused Rs 50 crore, including equity, and have raised
additional funds through short-term borrowings from banks to fund the first
phase development. The SEZ is to be developed over three phases and entail an
investment of Rs 800 crore.