European Technology Park In Faridabad At A Cost Of Rs 1,450 Crore
By Ni3, Section Faridabad Real Estate Property
Posted on Fri Jun 13, 2008 at 05:05:50 AM EST
Oedith Jaharia of Dutch Haryana Business Consortium has approached the Haryana government to set up an European technology park in Faridabad at a cost of Rs 1,450 crore and a Special Purpose Vehicle (SPV) is being incorporated for implementation of this project. A spokesman of Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) on Tuesday said the project would come up over an area of 500 acre.
He said the project aimed at attracting European companies for their research and development related activities in the fields of bio-technology, engineering, finance, pharma and other scientific areas.
He said the project will bring foreign direct investment of 80% of the total investment. The project will be implemented in two phases over a period of seven years. The developer has identified the land for setting up of the project and has submitted details of land measuring about 500 acre in Faridabad for demarcation.
He said HSIIDC was developing technology parks and IT corridor at IMT Manesar in Gurgaon district, Panchkula and Rai in Sonipat as per the campus development norms announced in the new industrial policy.
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Allotment has been made to 12 companies at Manesar technology park spread over an area of 140 acre and to 22 companies ranging between one and 10 acre for the first phase at Panchkula technology park spread over an area of 75 acre.
Prominent among these are T3 Infra Tech, HCL, Primrose, Agilent Technologies, Shapoorji Pallonji,Spice Communication, Rolling Construction, Parabolic Research, Haryana Infotech etc.
Another technology park is being developed adjacent to the industrial estate at Rai in Sonipat. An area of about 56 acre of land has been earmarked for this purpose, he added. He said with a view to meet the ever increasing demand from the industry, some of the existing industrial parks at IMT Manesar, Bawal, Kundli, Barhi, Rai, Karnal and Saha were being expanded.
Source: Financial Express 13/June/2008
