Tata Realty plans 2 greenfield airport projects

CHENNAI: Tata Realty and Infrastructure Limited is planning to execute two greenfield airport projects - one in Nagpur and another in Pune – as part of the company’s endeavour to create projects of national significance, said its MD and CEO Sanjay G Ubale.Addressing the media here on Thursday, he said that the company, which carried a `30,000 crore portfolio for the next five years, would carry out all types of projects, including the `3,500 crore IT SEZ projects in Chennai.He said that the airport projects, including the one at Navi Mumbai and Jamshedpur, would be done in close coordination with the Government.“Plans are there to launch one more residential project on a 10 lakh sq ft area in Chennai (costing `600 crore) on the lines of Ramanujan City on OMR,” he said and added, “The company is also working on 100 serviced apartments over 1.5 lakh sq ft area on OMR in Chennai.”Ubale said that each apartment measuring 3,000 sq ft in Ramanujan City would cost around `3 crore and all of them would cater to the high-end segments.Stating that the company had won the auction from TIDCO for the setting up of an IT SEZ in Chennai, he said that the total area of the project would be around 45 lakh sq ft, out of which 35 lakh sq ft would be earmarked for the IT SEZ. There would be a Convention Centre on a 50,000 sq ft which could hold 1,500 people at a time. Over 100 residential apartments would occupy 3.5 lakh sq ft area.The first block in the IT SEZ would be ready by December this year, the second block by March 2011 and the third block immediately after that, Ubale said.In the retail sector, the company would develop 7.5 lakh sq ft in Amritsar at a cost of `400 crore, besides the residential and retail projects in Nagpur (12 lakh sq ft involving `600 crore) and Kochi (12 lakh sq ft involving `800 crore), he said.On the realty sector, the company would execute three projects for the TCS - one in Pune SEZ at `1,200 crore, Gujarat SEZ `800 crore and Kolkata (the outlay yet to be fixed) - in the next two to four years.On the logistics side, four locations had been identified – Chennai, Delhi, Kolkata and Guwahati - for the creation of logistics parks at a total cost of `1,400 crore, the work on which would start in a month’s time, Ubale said.

http://expressbuzz.com/finance/tata-realty-plans-2-greenfield-airport-projects/195772.html

By Minna Niskanen, 6.8.2010 10:32