DLF SIGNS MOU WITH ORISSA GOVERNMENT TO DEVELOP SEZ DEDICATED TO IT IN BHUVNESHWAR

DLF SIGNS MOU WITH ORISSA GOVERNMENT TO DEVELOP SEZ DEDICATED TO IT IN BHUVNESHWAR

New Delhi , November 11, 2006 The State Government of Orissa on Friday signed an agreement with India’s leading real estate developer DLF Limited to set up Orissa’s first Special Economic Zone (SEZ) dedicated to Information Technology (IT).

Mr. Vishal Dev, Director – IT, Department of IT, Government of Orissa while speaking here in Delhi at the VAR India IT Award ceremony said The lease-cum-development agreement was signed between Orissa Industrial Infrastructure Development Corporation (IDCO) and DLF for developing 54 acres of land opposite InfoCity in Chandaka Industrial Estate. The project envisages construction of 4.12 million square feet of built up space of which a minimum of 60 percent would be dedicated to IT.

DLF has been selected for development of this project through an open competitive bidding process where it emerged as the highest bidder. The land would be made available to the company on 70 years lease basis at a consideration amount of Rs 44 crore, approximately Rs 81 lakh per acre. The project cost inclusive of land acquisition would be about Rs 1000 crore.

Mr Dev said that the project would give a boost to the growth of IT and ITES services in the State creating direct employment opportunities for about 25,000 software professionals.

He said apart from 60 per cent of the built up area that will be used for IT , rest will be used for a Five star hotel and other space will be used for integrating office, business and recreational needs.

The state government has partnered with DLF to set up the first SEZ dedicated to IT. The SEZ will be located right opposite to the existing Infocity in Bhubaneswar.