Hi-Tech Group to invest Rs 2,000cr

Hi-Tech Group of Institutions has drawn up a plan to develop a 150-acre knowledge city on the outskirts of Bhubaneswar at an estimated investment of Rs 2,000 crore.

The proposed knowledge city, a dream project of the Hi-Tech Group, will be developed in three phases with the entire project scheduled to be commissioned by 2012. In the first phase, the city-based Hi-Tech Group will pump in Rs 500 crore and the first phase is set to be completed by 2010.

“We have identified three to four plots close to Bhubaneswar for our proposed knowledge city. The Hi-Tech Group expects to take possession of land and resume construction work within eighteen months”, Tirupati Panigrahi, chairman of the Hi-Tech Group of Institutions told Business Standard.

The knowledge city will comprise housing projects, educational institutes like schools and an engineering college, hospitals and other community amenities like amusement parks.

In parallel, Hi-Tech Group is also looking to set up as many as eighteen engineering colleges in different districts of Orissa over the next three to four years.

“We are aiming to open eighteen engineering colleges in various districts of the state and this year the Hi-Tech Group will set up three to four new engineering colleges”, Panigrahi said.

At present, the Hi-Tech Group of Institutions is running seven institutes in the state namely, Hi-Tech Medical College and Hospital, Hi-Tech College of Medical Science, Hi-Tech Dental College, Konark Institute of Science and Technology, Hi-Tech Institute of Technology, Hi-Tech Pharmacy College and the Hi-Tech School of Nursing.