The Tamil Nadu Government on Thursday inked a pact with the Hyderabad based AMR Constructions to set up a Rs 15,000 crore multi-sector Special Economic Zone (SEZ) at Nanguneri in Tirunelveli.

The foundation stone of the project was laid seven years back.

The project, which is expected to generate employment for 70,000 people, would be implemented in two phases and be the first multi-sector SEZ in Tamil Nadu.

The Tamil Nadu Industries Development Corporation (TIDCO) promoted SEZ would come up over 2,520 acres of land and would focus on areas such as auto components, engineering, software products, bio-technology and IT among others, an official release said.

An Memorandum of Understanding (MoU) was signed between TIDCO Chairman and Managing Director, S Ramasundaram and A Mahesh Reddy and B Ravikumar Reddy of AMR Constructions in the presence of Chief Minister M Karunanidhi.