Tata Realty in Chennai IT park alliance with Leighton Holdings

Tata Realty and Infrastructure Limited (TRIL) has signed a project alliance agreement with Leighton Holdings Limited, Australia's largest project development and contracting group, to build a computer services park at the new Ramanujan IT Park in Chennai, India.

The project, worth approximately Rs1,100 crore ($230 million), involves the construction of a mixture of IT offices, a convention centre, retail, residential, hospitality, entertainment and car-park facilities.

The new Ramanujan IT Park is located on a prime 25-acre site situated along the Old Mamallapuram Road opposite the Thiruvanmiyur MRT Railway Station in the district of Armani, Chennai. The site is situated just north of the Taramani IT corridor where the majority of the region's growing IT sector is housed and the development will offer a unique opportunity to serve as a gateway to the IT corridor.

The new Ramanujan IT Park is to be developed within a special economic zone and comprises two distinct elements: a processing zone, and a non-processing zone.

The processing zone will be the IT portion of the development consisting of four office buildings with three levels of basement car parking, along with additional multi-level car parking and utility buildings will also be provided to support the IT facilities.

The non-processing zone consists of a mixed-use development comprising of a convention centre, retail, residential, hospitality and entertainment facilities along with below ground car parking.

In May, the Tata Group had said that it would raise a $1 billion (around Rs4,700 crore) fund for investing in infrastructure projects in the country. The money so raised will be used to fund the group's investments of around Rs20,000 crore planned for the next three years. (See: Tata Group to raise $1 billion infrastructure fund)