Olympia Group to set up IT park in Chennai with Apollo Global as JV partner

Olympia Cyberspace, unit of the city-based Olympia Group Wednesday said, it has planned to set up an Information Technology park spread across 1.1 million square foot here at an investment of about Rs 750 crore. The IT Park is being set up with US Private equity fund Apollo Global as a joint venture partner.

The campus to come up in Guindy here is proposed to be constructed in three years and expected to generate 12,500 direct jobs. On the IT Park, Olympia Group Managing Director, Ajit Kumar Chordia said, "the ongoing demand for office space in the city has prompted the development of IT Park".

"The project will have a total investment of about Rs 750 crore and is expected to generate employment for 12,500 IT professionals directly..," he said. Noting that the project would be a milestone for the group in the IT office space vertical, he said, "we are confident that this facility will attract IT/ITeS MNCs that benefit from the state-of-the-art amenities at a strategic location".

(With inputs from agencies.)