2008-07-19 13:28:45 - Maytas Properties will be investing Rs 2,500 crore in the development of its first IT/ITes special economic zone (SEZ), which will come up at Bachupally in Hyderabad.

The developer has already signed up with Wells Fargo India Solutions, a subsidiary of the US giant, as the first client for the SEZ. The SEZ, spread over 74 acres, will be a part of a 400-acre township called the ‘Maytas Hill County'.

"The construction will be in 5 phases. The first phase is expected to be completed by October to

December 2009. The total built-up area at the end of the first phase will be 1.3 million sq. ft," chief executive officer Mr K. Thiagarajan said.

The completed SEZ will have the capacity to house 80,000 employees, he added. The Hyderabad real estate infrastructure company, backed by the promoters of Satyam Computers, has two other SEZ projects lined up in Hyderabad. The projects would come up at Mysammaguda and Gopanpally and would be spread over 35 acres and 39 acres respectively, with a total built-up area of 9 million sq. ft. Maytas Properties has also bought land in Bangalore, Chennai, Vijaywada and Vishakhapatnam. "For now, our focus remains in the states to the south of the Vindhyas. But we are not averse to working in north India," Thiagarajan said.

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