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Chennai Financial City: Tamil Nadu to float internation bids on project

Chennai, Sep 9 (Calcutta Tube) The Tamil Nadu government will float international competitive bids next month for the proposed Chennai Financial City, a top government official said Thursday.

‘Consultancy firm PriceWaterHouseCoopers (PWC) are expected to give their report by the end of this month so that Tamil Nadu Industrial Development Corporation (Tidco) can call for bids,’ Information Technology Secretary P.W.C. Davidar told

reporters on the sidelines of Connect 2010 here.

Connect 2010 is a conference of information, communication and technology (ICT) event organized jointly by Confederation of Indian Industry (CII), Government of Tamil Nadu and Government of India.

Davidar said PWC would suggest who should be developing the city- real estate companies or the financial sector players.

The investment in the project is expected to be around Rs.10,000 crore when fully completed, said Industry Secretary Rajeev Ranjan.

The major sectors that would function in the city are core financial services, global IT hub for financial services, financial business processing outsourcing, financial operations centre and training centre.

According to Robin Roy, associate director, PWC, the proposed Chennai Financial City might compete against the 500-acre Gujarat International Finance Tec-City.

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