IT Mega City to be launched in Bangalore by December
IT Mega City project will be launched by December. The project is expected to attract an investment of Rs2 lakh-crore and it would have an employment potential of over three million.
The State Government is all set to launch the Information Technology Investment Region (ITIR) project near Devanahalli by December. The Government, with support from the Centre, has decided to set up the ITIR on 10,000 acres of land with an investment of Rs. 1 lakh crore in phases. Consequently, the ITIR Act has already been gazetted.
The ITIR is one of the largest infrastructure projects in Karnataka's history. The initiative will provide direct employment to 1.2 million people and indirect employment to 2.8 million. Development will involve a Centre-State partnership in conjunction with private partners. Basic infrastructure such as road, rail and telecommunication links will be provided by the Centre.
The State governments will provide physical infrastructure and utilities, including power, water, sewerage and effluent treatment facilities. Over 55 multinational IT companies including Infosys, Wipro, TCS, and Cognizant have signed signaled an interest in joining and have signed MOUs. The first phase of ITIR spread over 2,500 acre will be completed in by 2012, while the second and third phases will be built over the next five to ten years.
The State government has started the process of land acquisition from farmers and is paying 56 lakhs per acre and providing 7,000 square feet of developed land per acre to farmers. The project requires the approval of 24 Union Government departments and already no-objection certificates (NoCs) have been obtained from 16 departments. The department of Human Resource Development, Urban Development and Environment and Forests have made certain observations, while Home and Railways departments are yet to give their views.
A private cluster of biotech parks would come up near Electronics City in Bangalore via PPP mode. A State supported incubation centre and instrumentation facility in the biotech park in Bangalore would be rented out for private entrepreneurs for innovations.
Source: The Hindu