To acquire Rs 690 crore Special Economic Zone of information technology in Chennai foreigner investor Xander is in parleys with Shriram Group. The SEZ, 'Shriram-The Gateway SEZ' is located near Tambaram. It is designed as an integrated development project comprising 6 mn sqft of IT/ITES SEZ offices and about 2.5 mn sqft of residential development.
The SEZ is spread in 58 acres and its 40 acres is designated for IT offices. The residential enclave is designed adjacent to the SEZ and measures about 18 acres. Shriram - The Gateway SEZ is a JV between Shriram Properties& SUN-Apollo.