The Revel Collective Regulatory News (TRC)

23 Nov 2006 07:05

Trinity Capital PLC23 November 2006 Trinity Capital PLC ("Trinity") £215 million IT Park, Greater Noida Trinity Capital PLC is pleased to announce that it has completed the secondpayment, of £10.1 million, as part of the £28.3 million commitment to theInformation Technology Park project in Greater Noida. The payment of the initial£10.3 million tranche was announced on 18 October 2006. A further £7.37 millionof equity will be invested into the development of the project. The total costof the development is expected to be £215 million which will be financed througha mix of debt and pre-construction sales. The development is located in Greater Noida, a growing satellite town of Delhithat is adjacent to Noida. Greater Noida is one of India's emerging IT zones andis expected, over time, to become one of the largest. The site is thereforelocated in a unique catchment area for IT/ITES, and this is one of tenproperties in the IT corridor. Neighbouring developments in the IT zone includea development by the IT corporation Wipro for their own use which will helpestablish the IT zone, without affecting external demand. The project envisages development of approximately 5.2 million sq ft ofInformation Technology and Information Technology Enabled Services (IT/ITES)office buildings, 894,000 sq ft of residential apartments, 612,000 sq ft ofserviced apartments and hotel space, and 477,000 sq ft of commercial space. Oncecompleted this will be a self-contained IT destination. Greater Noida offers several advantages to industries in terms of connectivityand infrastructure. Key among these are: • 50 minutes from New Delhi Railway Station and 55 minutes from I.G.I. Airport • Supply of basic amenities planned to exceed demand • Reliable power distribution • Optical fibre has been laid to provide broadband connectivity of 650 MBPS through 4 service operators • 24 x 7 water supply and abundant sweet ground water • 60-105-metre wide road network • Underground electric cabling and drainage system • Pollution free environment • Scientifically planned sector layout • The U.P. Development Council has provided many concessions in various fields in the IT Policy of UP Leading Indian and international companies involved with Greater Noida are:Honda Siel, LG, Pepsi, Denso India, Escorts Yamaha, Moser Baer and Videocon. Commenting on the announcement, Aashish Kalra of Trikona Capital said: "Thisproject sees Trinity playing a major role in the development of one of thelargest IT parks in India. There continues to be exceptional growth in the ITand ITES industries. Greater Noida is likely to play a significant role in thecontinued growth of this sector." ENDS Enquiries: Trikona Capital Rak Chugh +91 11 2620 7257 Cardew Group Tim Robertson +44 20 7930 0777 Sofia Rehman Catherine Maitland (London) Gutenberg Communications Harjiv Singh (New York) +1 917 623 7793 Pranav Kumar (Delhi) +91 98100 77898 Numis Iain McDonald +44 20 7776 1567 Notes: • For further information and regular updates regarding the Fund's activities, please log on and sign up for news alerts at www.trinityplc.com This information is provided by RNS The company news service from the London Stock Exchange