M&M to develop IT Park in Sri Lanka

The Board of Investment of Sri Lanka (BOI) and Mahindra & Mahindra inked an agreement on Tuesday under which the latter will develop an Information Technology Park in the island nation. Located at a 53 acre site in Katunayake, near the only international airport in Sri Lanka, the project involves development of 2.6-3 million sq. ft. of space that can be used for the different types of IT related activities.

The agreement was signed by Sarath Amunugama, Minister of Enterprise Development and Investment Promotion, and Arun Nanda, Vice-Chairman, Mahindra & Mahindra, in the presence of Jairam Ramesh, Union Minister of State for Commerce, who is now on an official visit here as leader of a high level Government and business delegation. It was also announced on the occasion that Mahindra & Mahindra was committed to develop a 900-acre special economic zone (SEZ) in Trincomalee in the east and a formal agreement on the SEZ could be expected in the next 30 days.

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http://www.hindu.com/2008/02/13/stories/2008021355291800.htm