GVK seeks anchor investor to revive TN SEZ plans

GVK, the Hyderabad-based infrastructure developer, is looking for an anchor investor so that it can revive its special economic zone (SEZ) project in Tamil Nadu. GVK and Tamil Nadu Industrial Development Corporation Ltd (TIDCO) have plans to develop a multi-product SEZ, spread over 3,000 acres, at Perambalur. The SEZ will offer manufacturing facilities to industries like textiles, leather, engineering goods, pharmaceuticals, power, information technology and information technology enabled services, metals, fertilisers, chemicals, floriculture, horticulture and electronics. GVK is in the process of completing statutory requirements and building basic infrastructure for the SEZ.

According to the company, the SEZ is seeing a lot of interest from manufacturers in the aviation sector. The project is expected to attract investments worth Rs 5,000 crore in seven years and generate annual export earnings of around Rs 6,000 crore. The SEZ is implemented through GVK Infratech, a special purpose vehicle. GVK Infratech is a wholly-owned subsidiary of GVK Power and Infrastructure.