Maytas Properties launches "walk to work" IT-ITeS SEZ in Hyderabad

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According to Maytas, the SEZ, which is coming up on an integrated township called Maytas Hill County spread across 376 acres, will have a total land area of 74 acres with built-up area of 8 million square feet (sq ft).

Maytas, which is promoted by India's fourth largest IT consultant and software exporter Satyam Computer Services, will invest Rs.2500 crore in the SEZ project. The funds for the project will be raised through a mix of debt and equity.

Maytas has roped in the New York-based architect Skidmore Owings & Merrill (SOM), which designed world-class structures including Sears Towers, Chicago, Freedom Towers New York, and Burj in Dubai, for the project.

In the first phase of the SEZ project, 1.3 million sq ft would be ready for occupation by April 2009.

The entire project (SEZ and the township) is expected to be complete by 2016 or 2018.

"The world-class SEZ at Maytas Hill County will add impetus to the growth of the state and the company. Through this project, we envisage providing superior quality lifestyle for residents of Maytas Hill County - all within a quick jaunt to their workplaces," said K. Thiagarajan, CEO., Maytas Properties, while announcing the signing up of its first client, Wells Fargo Solutions, a wholly owned subsidiary of US-based diversified financial services company Wells Fargo and Co., US.

The completed SEZ will house environment-friendly buildings and will generate 80,000 jobs, he added.