Date:02/12/2007 URL: http://www.thehindubusinessline.com/2007/12/02/stories/2007120251360500.htm

Back TNPL seeks bids to lease out land

Our Bureau

Chennai, Dec. 1 Tamil Nadu Newsprint and Papers Ltd has called for property developers and IT/ITES companies to bid for its 3.5-acre property in suburban Ambattur, to set up an IT park.

TNPL, a State Government enterprise, manufacturing printing and writing paper, wishes to put to use the land it has in the Ambattur Industrial Estate. The company has offered to lease the land on an annual lease payment to developers for 20-25 years. The developers can the set up the IT park on a build-lease-operate-transfer basis or build-own-operate-transfer basis. The estimated built up area is 3.5-4.5 lakh square feet. At the end of the tenure, the development will be transferred to TNPL along with rental rights. Property developers and construction firms with a networth of Rs 200 crore with at least one completed project of at least 3-lakh sq ft within the last three years are eligible to apply.