Embassy Group plans 30-acre SEZ project

In a major booster to the otherwise dormant Special Economic Zones' sector, property developer- Embassy Group has emerged as the exclusive co-developer for setting up a 30-acre special economic zone in the heart of the Chennai city, said an industry insider, adding that the project is ideally located on the Thoraipakkam Pallavaram Radial Road in the city and it would be known as "Embassy Splendid Tech Zone". The first phase of the project is expected to be completed by 2019. Embassy Group has received approval from the Board of Approval to act as exclusive co-developer for the Notified SEZ. Commenting on the development, Chairman and Managing Director, Amassy Group, Jitu Virwani said that the company is excited to move ahead with this new partnership and add to its existing multi-SEZ portfolio and with the latest initiative, the player planned to strengthen its foothold in the city.

Published: 03 July 2016