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TNPL Invites Bids For Ambattur Land Again
The Tamil Nadu Newsprint and Papers Ltd (TNPL), has made an announcement recently and invited bids from property developers to lease its land in suburban Ambattur to set up an IT park, for the second time. The sources from the TNPL, have stated that the company did get a very good response for its bids in the last year and it is owning a huge 3.5 acres land in Ambattur, an industrial area on the western outskirts of Chennai, at the moment. The sources added that the company is planning to give the land on a 25-year lease to the developers, who are interested in setting up an IT/ITES park. The sources added that the plot is having an estimated potential built up area of about 3.5-4.5 lakh sq ft.

While talking about the matter, one of the top officials from the TNPL, has stated that the company has invited bids from the property developers, construction companies and IT companies to lease the land. The official said that the bids are invited for developing the land on a Build-Lease-Operate-Transfer (BLOT) or Build-Own-Operate-Transfer (BOOT) basis, as well and the land lease payment could be on an upfront or yearly lease basis. The official added that the property along with the development and rental rights would revert to TNPL, at the end of the lease period.

The official was also elaborating the conditions of the bids and said that the companies that would be considered as eligible to participate in the bid include the developers and builders or a consortium with a net worth of Rs 200 crore. The TNPL has also stated that the eligible participants should also have experience in an IT building project of over 3 lakh sq ft in the last three years. The official further informed that the IT companies is required to have a turnover of Rs 500 crore in the last fiscal and they also should be in business for at least three years.

Posted On : 01 Jul 08
TNPL Invites Bids For Ambattur Land Again
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