The Bangalore-based infrastructure developer, GMR Limited, as per reports, is all set to seal a deal to sell a portion of the SEZ and it has reportedly zeroed in on two potential buyers. GMR had earlier planned to develop a special economic zone in Krishnagiri district of Tamil Nadu and is now selling about 1,100 acres out of about 3,000 acres involving an investment of Rs. 550cr, said sources adding that the company is directly discussing with potential buyers.

GMR during 2013 has been pretty much aggressive on shedding assets through which it has raised close to Rs 3,000cr already during the first half of the year. The SEZ at Krishnagiri is part of GMR's strategy to get into urban infrastructure space spanning industrial investment zones as well as domestic tariff areas. The GMR Krishnagiri Industrial Investment Zones Limited is developing an area of approximately 3,000 acres jointly with Tamil Nadu Industrial Development Corporation. This industrial investment zones project was won by GMR based on a two stage international competitive bid. In the first phase development of 250 acres, a manufacturing & engineering industrial investment zone is being planned and it is currently understood to be in various stages of negotiations to finalize an anchor tenant.