Riverbank Holdings Pvt Limited, a joint venture between Bata India Limited and Calcutta Metropolitan Group Limited has finalised a 50 per cent equity participation by Yatra Capital Limited for its IT SEZ project to come up at Batanagar. Yatra Capital which is the first India focussed investment company and the first Jersey incorporated company to list on Euronext, Amsterdam, has picked up 50 per cent equity in the project for Rs 117.6 crore. The investment by Yatra has been done by a special purpose company, K2A Commercial.
The IT SEZ is a part of the Calcutta Riverside project which also includes an integrated township spread over an area of 262 acres on the banks of Hooghly river.
Speaking on the occasion, Mr Sumit Dabriwala, managing director of RHPL said, the first phase of IT special economic zone will be completed by early 2010 and the entire project including the township is expected to be over by the last quarter of 2012.
The SEZ covering an area of 25 acres will offer a built-up area of 21.92 lakh sq ft comprising 15.73 lakh sq ft for IT processing zone and 6.19 lakh sq ft of housing space dedicated to the IT zone. According to Mr Dabriwala, the SEZ is expected to employ about 30,000 people when completed.
Source: Statesman