Velankani announces launch Of Sez at Sriperumbudur in Chennai
Chennai, September 10, 2008
The only IT/ITES/Electronic Hardware Manufacturing SEZ in Chennai with space availability The only SEZ Park which would result in the formation of a vibrant supply chain cluster for the Indian Telecom and Electronics Industry The only plug & play facility in Sriperumbudur where companies would have hassle free experience in starting operations
Velankani Technology Parks Pvt. Ltd, a Velankani Group Company , today announced that it is developing an “Electronic Hardware Manufacturing and ITES” SEZ at Sriperumbudur in Tamil Nadu. With an investment of Rs 1300 crore in a 250-acre campus in Sriperumbudur, this SEZ with over eight million sq ft is equipped to house between 20 and 30 global component suppliers.
The Velankani IT/ITES/Electronic Hardware SEZ has received the final gazetted approval and the building construction is currently in progress. The first building will be ready by October 08 along with the basic infrastructure. Various international and domestic companies have signed up and will be starting operations in April 09. The entire development is expected to be completed by 2012.
Velankani Park will be a Sector Specific Special Economic Zone for “Electronic Hardware & Software, including ITES”. The Park will primarily meet the business needs of the telecom OEM & EMS manufacturing giants and will cater to component manufacturing. This will result in the formation of a robust and vibrant supply cluster for the telecom and electronic industry in India through local manufacturers and international investment.
The Velankani SEZ will serve as a backbone for the development of telecom manufacturing in the region and will make it quite similar to the clusters that have been developed in China. Velankani park offers a unique solution for component manufacturing given that it is the only “Plug and Play” SEZ development.
The Velankani Park is along the National Highway 4 (NH-4) that connects Chennai to Bangalore. The distance from Chennai is approximately 45 Kms. The Park is in the planned IT Hardware Manufacturing zone.
Says Mr. Kiron Shah, Managing Director, Velankani Technology Parks Private Limited, “The Velankani Park is also the only SEZ which will offer a plug & play facility in Sriperumbudur for companies to have a hassle free experience in starting operations. All basic infrastructure like power, communication, water, sewer and storm water drains will be provided by Velankani to meet present and future requirements.”
Being the only developed space available in Sriperumbudur, the Velankani SEZ offers a unique opportunity to promote supply chain development and elevate Chennai’s status as a major manufacturing hub in India.
Says Mr. Rajoo Goel, Secretary General of India’s oldest and largest electronics Association, ELCINA Electronic Industries Association of India “there is a dire need for expansion in component manufacturing and this SEZ would facilitate that by making the experience hassle free for companies interested in investing”
According to Henry Gilchrist, Director – Avista Advisory Group, specialists in india entry strategies, investment banking solutions, and are advisors to the Velankani Group, “The Government has already taken various steps to ease the entry of global companies into India. One critical need is the access to components, spare parts and other hardware and software requirements at a cost competitive rate.”
As manufacturing grows and demand increases, the indigenous supply base will develop, leading to greater economies of scale for manufacturers. Local manufacturing will build capabilities and increase employment as well as encourage the development of the sector further.
“We have received letters of interest from firms in Europe, the US, Japan and China. Currently, there is a lack of competitive supply chain for electronics components in India and very few world-class electronic component manufacturing and supply chain facilities. And this is where the Velankani SEZ offers a unique opportunity in terms of accessibility to manufacturers”, he further adds.
Avista Advisory Group, advisors to Velankani have successfully worked with global OEMs and EMS companies and assisted them in setting up their projects in India.
About Velankani Group
The Velankani group is a state-of-the-art software and industrial park developer, headquartered in Bangalore. The company is primarily engaged in the business of infrastructure development & management for the IT and electronics manufacturing sectors.
About Avista Advisory Group
Avista Advisory Group is a financial services group, which provides specialist advisory services coupled with innovative financial solutions to the corporate sector with a focus on enterprises with high growth and a global vision. The company is headquartered in Mumbai and operates through a network of associates based in key global locations with a similar business focus.