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The Odisha Industrial Infrastructure Development Corporation (Idco) has spent Rs 71.62 crore towards land acquisition and infrastructure development on the Infovalley project being developed on the city’s outskirts to draw investors in IT and electronics hardware sectors.
“The total expenditure incurred by Idco for the Infovalley project by the end of October is Rs 71.62 crore (Rs 41.32 crore towards land acquisition and Rs 30.30 crore for infrastructure development). The Infovalley project is now ready for entrepreneurs and will be functional soon,” state IT minister Pranab Prakash Das informed the state assembly through a written reply.
Idco is the co-developer for the Infovalley project spread over 600 acres of land. Infovalley includes 262 acres IT SEZ (Special Economic Zone), 215 acres ESDM park (Electronics System Design & Manufacturing), 113 acres green space and 54 acres of business park.
IT major Infosys Technologies, the anchor tenant for the project has been alloted 50.91 acres within the SEZ notified area of Infocity. Initially, the Infosys software development centre, its second in the city, would have a headcount of 1,000.
The IT major has lined up an investment of Rs 400 crore for this centre in two phases. Singapore based Jurong Consultants has been roped in by Idco to prepare the master plan that is in its last leg. Infovalley project is projected to generate direct and indirect employment for 600,000 people.
The project is slated to generate Rs 1,500 crore revenue in the first three years. An electronics manufacturing cluster (EMC) would also come up at Infovalley. The EMC would house over 100 electronics manufacturing units. The project would be developed at an estimated cost of Rs 209.64 crore with Rs 96.96 crore contribution from the Centre.
The cluster is expected to draw investment to the tune of Rs 979 crore including that of establishment of individual units, machinery and park infrastructure and would generate around 10,000 to 12,000 jobs, both skilled and semi-skilled.
