MatexNet to conduct e-auction for Tamil Nadu project

Online B2B auction service provider, MatexNet, will provide an e-auction platform for the Tamil Nadu Road Development Company Limited (TNRDC)'s BOT (build, operate,transfer) project for constructing an amenity centre within the Sipcot Information Technology Park premises at Siruseri near Chennai.

KR Viswanathan, director-in-charge, TNRDC, said they were looking for bidders well-versed in development, operation and maintenance of three-star hotels with a capital investment of at least Rs 100 crore. The initial auction process will commence this week with online bidding scheduled for December 7.

The auction will witness bids from developers or consortia for development of the amenity centre on a 30-year lease.

The centre will comprise a star hotel along with facilities such as service apartments, multiplex, food courts, malls and hypermarts. The bidder will not be allowed to operate the IT Park or construct residential complexes within the amenity centre.

TNRDC is a 50:50 joint venture between the Tamil Nadu Industrial Development Corporation (Tidco), the investment arm of the Tamil Nadu government, and Infrastructure Leasing and Financial Services (IL&FS).