GVK Power & Infrastructure today announced it has signed a memorandum of understanding (MoU) with Tamil Nadu to jointly develop a multi-product special economic zone (SEZ) in Perambalur District in the state.According to an official release issued by the company to the BSE today, its wholly-owned subsidiary GVK Infratech, will enter into a JV with Tamil Nadu Industrial Development Corporation (TIDCO) for the implementation of the project through a special purpose vehicle.The MoU was signed by G V Krishna Reddy, CMD, GVK Power & Infrastructure and S Ramasundaram, chairman, Tamil Nadu Industrial Development Corporation (TIDCO).Agencies add that the 3,000 acre development will entail an investment of Rs 1,500 crore.
