Larsen and Toubro and Arun Excello Infrastructure on Thursday, 19 July 2007, announced the launch of an IT SEZ. The project coming up at Vallancheri, Tamil Nadu will have a total built up area of 2.70 million squre feet (sq. ft.), spread over eight blocks, ranging from 2.5 lakh sq. ft. to 4.50 lakh sq. ft. and would be completed in two phases. Construction of the first phase is expected to begin in August end this year and would constitute 1.5 million sq. ft.
The scrip had hit a high of Rs 2455, also a all time high for the scrip, and a low of Rs 2390.15 so far during the day.
SEZ in India is the Largest Real Estate Scam in the world. I have never heard of this place called Vallancheri and I wonder how many IT Exporting companies will move into that place. Don’t panic, L&Ts major role will be in construction by virtue of which it will get stake 🙂