IT major Infosys Limited has signed the lease deed with Maharashtra Airport Development Company (MADC) for 142 acres of land in the MIHAN-SEZ at Nagpur. The company also paid the entire cost of the land at Rs 60 lakh an acre.
As reported, the move is expected to give a major boost to the Mihan project that was starved of investor activity so far. Recently, Infosys has been granted co-developer status in the SEZ, which means that it can develop the infrastructure to let it out to other units.
MADC's vice-chairman-cum-managing director UPS Madan said the company was expected to start the work soon. Work from MADC's side was complete and now it was up to Infosys to get the lease deed registered and start work, added Senior Marketing Manager in MADC S Sittarsu.
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