February 16, 2016: One of India’s leading integrated business city, SriCity, has received the Department of Electronics and IT (DeitY) in-principle approval to set up an electronic manufacturing cluster (EMC) in the Sri City industrial township, near Chennai.
The approval has been given under the cluster scheme where in the government will give a grant of Rs 500 million to develop infrastructure for a minimum area of 40,500sqm and a minimum attracted investment of Rs 2 billion.
The government’s support to SriCity will be reimbursement of half the expenditure made during development with a ceiling of Rs 500 million.
SriCity has already developed a 28.32 sqkm industrial-cum-residential township, which is an integrated development consisting of a multi-product special economic zone (SEZ), a domestic tariff zone (DTZ) and free trade warehousing zone (FTWZ) along with various residential, lifestyle and leisure amenities. Located 55km north of Chennai on NH 5, on the Tamil Nadu-Andhra Pradesh border, Sri City is well connected by road, rail networks and has access to four seaports and two international airports. Aligned with the work-live-learn-play concept, residential and lifestyle infrastructure is an integral part of Sri City’s development plans. Exclusive zones are planned to establish academic institutions, medical care facilities as well as an 18 – hole PGA standard golf course along with several other amenities.
