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City's First IT SEZ to Start in March 2011.


Date: 08-11-2010
Subject: City's First IT SEZ to Start in March 2011
AHMEDABAD: The 3rd Eye Voice  IT SEZ, city's first IT/ITES special economic zone (SEZ), is all set to become operational in March 2011. Already around 100 small companies functioning from different locations under Software Technology Park of India (STPI) scheme are planning to shift into the upcoming Rs 550 crore project.

Another two city-based companies, Elitecore Technologies Limited and Hi-Tech Outsourcing Services are also moving part of their existing business into the SEZ.

"3rd Eye is developing 36 lakh sq-ft infrastructure near Science City. Of the 10 buildings designed inside the SEZ, construction work of two towers is almost completed, where companies will start moving from March next year," said Bipin Shah, director of 3{+r}{+d} Eye SEZ.

The company is also planning a 50-storey (200m) tower, which will be the tallest building of Gujarat inside any IT SEZ in India. Design of the proposed tower is ready, but implementation will depend on certain approvals from state and central governments, added Shah.

"We are in the process of acquiring 70,000 sq ft space in the SEZ and investing Rs 100 crore for new software product development," said Rakesh Mistry, chief finance officer, Elitecore.

Bhanu Gupta, director of Hi-Tech said his company will purchase 35,000 sq ft space. Uttam Patel, who is representing a consortium of around 100 small IT companies associated with STPI said that since subsidy on exports and benefits under STPI schemes will expire in October, his group was looking for 3 to 5 lakh sq ft space.

Source : timesofindia.indiatimes.com

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