The proposed development will include an industrial township spread across 300–500 acres and an IT township covering 100–120 acres, said Arun Bharathi Arunachalam, Managing Director, GT Bharathi, at a media conference in Chennai on Thursday.
Arun Bharathi said the proposed investment would be mobilised in phases through multiple stakeholders and would not be funded entirely by GT Bharathi. The company would focus on land, infrastructure and master planning, while other partners could develop individual components such as IT facilities, universities and hospitals.
The company is also in discussions with the Tamil Nadu government to explore a public-private partnership (PPP) model, including possible government participation in land allocation. Discussions are under way with private landowners and prospective investors.
The partnership will leverage WTCA’s global network to connect businesses in the region with international markets, investors and multinational companies. The association has 326 licensed World Trade Center locations across 100 countries, said Scott Wang, Vice-President, Asia Pacific, WTCA.
He said the Chengalpattu region was considered suitable because of its industrial base, manufacturing activity and export potential. He said World Trade Centers were not restricted to commercial office buildings but could also include industrial parks, logistics facilities, convention centres and other business infrastructure.
WTCA evaluates potential developments based on the economic potential of the region, the capabilities of its local partner, commercial viability and support from the government and business community, Wang said.
Arun Bharathi said the company was seeking policy support from the state government, particularly in land pooling, tax incentives and faster clearances, to facilitate the proposed development. The company is also exploring MICE-focused World Trade Center developments in other locations, he added.