Sunday, July 31, 2011

One more firm takes space at our Coimbatore TIDEL Park

One more multi national company has finally signed an agreement to occupy the space inside the TIDEL Park, after much criticism that not many companies have come forward to occupy the space in the newly built Information Technology Park in the special economic zone in Coimbatore.
The park had brought along with it a lot of expectations for the city and was considered the next step for the growth and development of IT in the state. However, despite its strategic location, proximity to the airport and better infrastructure facilities, only one company has taken up space at the park.
The 380-cr project, a joint initiative of the Tamil Nadu Industrial Development Corporation, Electronics Corporation of India, Software Technology Parks of India and Tidel Park, Chennai, has come up on a 9.5 acre plot on Avinashi road, adjoining the Coimbatore Medical College campus.
"The company Merrill Technology Services India Private Limited, providing consultancy services, IT services, legal, marketing, communications, health care and financial solutions, has finalized the agreement," a senior official at Tidel Park said.
The company has agreed to occupy 20,000 sq ft of space in the facility and work would soon begin, he said, adding that the company is likely to employ about 150 people in the new facility.
"We are in discussion with many big companies. Besides Merrill, there are two other firms that have expressed interest in occupying space here, and we are in the final stage of discussions," he said.
"The minimum space a company needs to acquire here is 5,000 sq ft. Many of the smaller firms do not require so much space, and we have given many suggestions on how we can accommodate them," he said. He confirmed that the cost is 25 per sq ft and it has not been raised. He also reiterated that all necessary approvals have been received to set up offices at the Park.

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