Wednesday, August 31, 2011

More news about "TIDEL Park Coimbatore Ltd (TPCL)"

TIDEL Park Coimbatore Ltd (TPCL), spread over 9.5 acre in Coimbatore SEZ and is now ready in terms of infrastructure. Anand Purusothaman, CEO of Payoda which is the first company to move in, said, it was one of the best decisions to move to TPCL and that it has payed off really well in the 3-4 months they have stayed there.

"Coimbatore is a Tier II city with Tier I capabilities," he said. His company has taken up 17,000 square feet in the park and plans to buy more space as they are happy with the facilities and the advantages of the location. "It's right next to major educational institutions and we just walk to these campuses for recruitment," he added.

Susan Mathew, chairperson and MD, (Tamil Nadu Industrial Development Corporation (TIDCO) and chairperson, TIDEL Park Coimbatore said that Coimbatore has been doing really well and now accounts for 30% share (in revenue terms) of the engineering sector from the state.

"In the park, the space for IT companies is 9.14 lakh square feet. It was built at a cost of Rs 407 crore. All approvals have been received and it is ready. Located at just 2 KM from the with Airport and 7 KM from the railway station," she said.

The promoters of TPCL are TIDEL (52.5%), Electronics Corporation of Tamil Nadu Limited - ELCOT (25%), TIDCO (20%) and Software Technology Parks of India-STPI(2.5%). "Coimbatore was declared the fourth best city in India in terms of investment by a study conducted by CII," said N Sundaradevan, principal secretary (industries) highlighting the advantages of Coimbatore.

"It's cost advantage is 34% compared to Chennai, 21% compared to Madurai, 35% compared to Trichy and 36% compared to Salem." Coimbatore is fast emerging as an IT hub mainly for the talent pool it pos-sesses. According to Nasscom, 40% of the fresher hiring in the Indian IT in-dustry happens in the 9 districts in and around Coimbatore.

Bhamathi Prakash, MD of Merrill technology services which will be moving into the park in November and has taken up 18,000 square feet, said that Coimbatore was a great location because of weather and talent pool. "We plan to recruit 300 people by the end of this year," she said. "Overall, the exports from Indian IT industry currently stand at Rs 48,000 crore and will reach Rs 70,000 crore by the end of this year," said K Purushothaman, regional director of Nasscom.

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