Marg to build two SEZs in Chennai

Infrastructure developer Marg Ltd has launched a mega-infrastructure project in Chennai, which will house two notified SEZs for multi-services and engineering sector including auto ancillaries. The project, spread over 1,000 acres, is likely to be worth $1 billion in the next five years, with Marg’s investment likely to be over $400 million.

The project, Marg Swarnabhoomi, will be located off the East Coast Road connecting Chennai to Cuddalore and has been designed as a planned city. The SEZ will cover 612 acres. Marg has purchased in excess of 1,000 acres of land outside the SEZ for the development of the zone.

The two SEZs have been notified by the Board of Approval and have received environmental clearances. The project’s three phases are to be completed by end of 2013.