MARG unveils plans for a new city - " MARG Swarnabhoomi"

Marg Constructions Ltd has announced that the launch of its mega infrastructure project - MARG Swarnabhoomi. Strategically located off the high growth East Coast Road, MARG Swarnabhoomi is designed as a global standard model city. Spread over more than 1000 acres, this city includes two notified Special Economic Zones for "Multi Services" and "Engineering sector including auto ancillaries". Epitomizing the name Swarnabhoomi, this new land of prosperity is projected to create an economy of us$ 1 billion over the next 5 years through a self sustaining business model. MARG Swarnabhoomi will soon emerge as a jewel in the crown for the state of Tamil Nadu.

Announcing the launch of the city, Mr. GRK Reddy, Chairman & Managing Director, said MARG Swarnabhoomi is a city with the promise of plenty, peace and prosperity. Swarnabhoomi is strategically located off ECR with a scenic ambience in the midst of large water bodies; it encompasses two notified SEZs designed as engines for economic growth and wealth creation. Designed as a global city with world class civil and social infrastructure, MARG Swarnabhoomi delivers the perfect setting for a work-life balance while promoting the walk-to-work concept”.

MARG Swarnabhoomi has been designed to international standards by world renowned architects HOK, USA. A planned city, it will offer superior civic infrastructure, ample provision for residential units, 24-hrs water supply, power supply from the state electricity grid, optic fibre telecom & broadband connectivity, sewage treatment and desalination plants. Social infrastructure will include educational institutions, wellness centres, shopping malls and a first of its kind destination mall. For sport aficionados, there would an international standard golf course, sports and water sports facilities. The spectrum of housing options would be from affordable homes to luxury villas designed to bring in inclusivity.

MARG plans to invest in excess of US $400 million in the project. The total size of the project is expected to touch US $1 billion over the next 5 years. The SEZ projects will cover 612 acres and the MARG group has purchased in excess of 1000 acres of land outside the SEZ for the wholesome development of this zone. Basic infrastructure for the SEZ projects like road connectivity, power supply, sewage treatment facility and water supply is planned to be completed by year 2009. The project is surrounded by the Cheyyur swamps and this makes the temperature about 4 degrees Celsius lower than Chennai.

The two SEZs in MARG Swarnabhoomi are notified by the Board of Approval (BOA) of Government of India and they have also received the Environmental clearances, the only Multi Services SEZ in South India, it will target global businesses in the fields of KPO Animation & Simulation Services; Market Research, Specialty Healthcare and Educational Institutions. The Engineering sector SEZ is designed to attract mainly the industries in the Auto Component & Ancillaries sector. At the launch, Mr. B G Menon, Executive Director, MARG Ltd, said Soon after the formal notification, the response from the industry and investment community has been very enthusiastic. As we forge alliances and progress, MARG Swarnabhoomi will emerge as the Gurgaon of Chennai. This mega infrastructure project will be completed in 3 phases, the first phase by December 2009, followed by Phase
2 in March 2011 and then fully by December 2013.

Located in the Latur block, Cheyyur Taluk, this project will be an engine for massive employment generation. MARG Swarnabhoomi is expected to generate employment for over 1 lakh people once the SEZs are fully developed. The Latur Block covers 41 Panchayat villages with a population of close to 80,000 people with around 50 percent of SC & ST population. MARG Swarnabhoomi would also be accessible to youth seeking employment in the neighbouring areas of Kalpakkam, Puducherry, Tindivanam, Maduranthakam, Mahabalipuram and Chengalpet.

Reaffirming the belief that growth has to be inclusive, MARG had partnered with CII in June 2007 to initiate a Grassroots Skill Development Initiative (GLSDI) project in Cheyyur Taluk, the area surrounding MARG Swarnabhoomi. This innovative project covers preemployment skill training to cover 5000 unskilled workers by 2008. The second phase of the project includes industry specific training. MARG had allocated Rs. 1 crore for this social program. This innovative skill development program targets to generate social inclusiveness and to provide socially and economically vulnerable youth an opportunity to be a part of the mainstream economy. This initiative would work towards building a movement that will meet the challenges of sustainability and of inclusive growth.