TMCnet News
Karnataka initiates process to acquire 10,000 acres for ITIR project [Bangalore] [Times of India](Times of India Via Acquire Media NewsEdge) BANGALORE: Chief minister Siddaramaiah on Thursday directed Karnataka Industrial areas Development Board (KIADB) to issue final notification for acquisition of 2,072 acres of land towards developing Information Technology Investment Region (ITIR). In a meeting with IT and industries department held at Krishna, CM's home office, Siddaramaiah reportedly told KIADB and IT officials that the project was one of UPA's flagship scheme and should be implemented in time bound manner. The KIADB has already issued preliminary notification under Section 28 (1) of KIAD Act. When the board pointed out that it was facing financial crunch for land acquisition process, the CM said approach banks and government financial institution like Hudco for finance assistance for which government would stand guarantee. The ITIR will is integrated investment region housing IT, ITeS and hardware parks, supported by residential townships, a mini airport, high-speed railway network, shopping malls, hospitals and educational institutions among others. The project commenced in 2013 and will cover 40 square kilometres for which 10,500 acres of land is required. ITIR will come up in Devanahalli and Doddaballapur region. "The projected will be developed in two phases. The first phase will be developed between 2012 and 2020, and the second phase would be taken up between 2020 and 2032," IT minister SR Patil told TOI after the meeting. The total cost of the entire project is said to be Rs 1 lakh crore. "The Centre is expected to provide Rs 7,000 crore towards infrastructure facilities like rail network, roads and telecommunication for the proposed ITIR project," Patil said. The minister also said the project would create 40 lakh job opportunities. Soon after the project took off, over 55 software and hardware companies including leading names like Infosys, TCS and Wipro have evinced interest to establish their presence at the ITIR. (c) 2014 Bennett, Coleman & Company Limited |