The proposed IT park will be implemented through a joint venture company to be formed between the state owned Industrial Infrastructure Development Corporation (IDCO) and K Raheja group. It is expected to be completed in about 3 years and an estimated Rs 250 crore will be invested in the first phase.

Three possible locations at Infocity-I, Infocity-II and Mancheswar Industrial Estate have been identified but the final location will be decided in consultation with the Raheja group.

Proposed to be built over 30 acres of land, the IT park is expected to generate employment opportunities for more than 12,000 persons in next 3-4 years. K Raheja group , which is engaged in the business of infrastructure development, has the experience of developing similar IT parks in places like Hyderabad and Mumbai.

Speaking on the occasion, IT  minister SN Patro said, the park will be developed in public-private-partnership (PPP) mode. It will have about 10 lakh square feet of space to be used by different IT and ITeS companies coming to Orissa. As this project is highly employment intensive, it will be beneficial for the state.

Stating that about 3-4 lakh jobs are likely to be created in the IT and ITeS sector of the state, the minister said, the government is trying to achieve Rs 5000 crore software export target set by chief minister Naveen Patnaik well before 2012.

Ravi C Raheja said, that every 'Mindspace' IT park developed by the company is green certified.Citing the example of the IT park developed by the group in Hyderabad, Raheja said, the state government expected to generate about 15,000 jobs in 10 years.Within 4 years of starting the park about 50,000 jobs have already been created.The company is targeting to increase it to 1 lakh there. Bhubaneswar IT park will also generate vast employment opportunity for the people.

P K Mohapatra said, the propose IT park will provide the much needed quality IT infrastructure in the state. Chief secretary A K Tripathy and Vishal Dev, director, IT department were present.