| MoU for Rs. 20,000-cr. project inked with Government of Ras al Khaimah The Coimbatore township is expected to generate employment for 50,000 persons |
THINKING BIG: Khater Massaad, CEO, Ras Al Khaimah Investment Authority(extreme right), exchanges documents with S. Ramasundaram, CMD, TIDCO, to promote mega townships in Coimbatore and Kancheepuram, in the presence of Chief Minister M.Karunanidhi at the Secretariat in Chennai on Saturday.
Two mega townships with world-class facilities will be set up in Coimbatore and Kancheepuram at an estimated cost of Rs. 20,000 crore.
The Memorandum of Understanding was signed by S. Ramasundaram, TIDCO Chairman and Managing Director, on behalf of the State, and Khater Massaad, Chief Executive Officer of the Ras al Khaimah Investment Authority, on behalf of the Government of Ras al Khaimah (UAE), in the presence of Chief Minister M. Karunanidhi here on Saturday.
Golf course
The Coimbatore project will come up on 1000 acres and will have an Information Technology Special Economic Zone supported by an integrated feeder township. The township will also have a golf course, shopping malls, resort hotel, health spa and single and multiple family homes matching up to international standards.
The township, expected to be completed in five years, will have about 5 million sq.ft of IT space and is expected to generate employment for over 50,000 persons.
Marina project
The 500-acre Kadalur Marina project in Kancheepuram district will have water sports, leisure entertainment, high-end residential facilities and a world-class golf course. It will provide employment to over 15,000 people. Land for projects is being purchased directly by the promoters.
Electricity Minister N. Veerasamy, Chief Secretary L.K. Tripathi, Finance Secretary K. Gnanadesikan, and Industries Secretary Shaktikanta Das were present.
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