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New tech city for TN

The US-based Infac group is planning to set up a self-sustained industrial city over 2,500 acres and costing $ 200 million over 10 years at Nanguneri in Tamil Nadu.

The new city, to be set up in collaboration with the Tamil Nadu Industrial Development Corporation 75 kms north of Tuticorin, is expected to draw Rs 60 billion in support from companies in the fields of electronics, semi-conductors, medical and biomedical technology.

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The $ 200 million for the city will not include the cost of providing support services like power, medical aid, housing etc. For these, other joint ventures are being considered.

The project is being promoted by Infac Management Corporation, Breakthrough Solutions, Broadcare Management Company and TIDCO under a joint venture, TN Tech City Ltd.

The city is intended specially for units that require pollution-free conditions. Work on the city is expected to begin in early 1999.

-Compiled from the Indian media

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