Bhubaneswar to receive $ 300 Million from the US for the development for Info Valley
A team of global investors from the Silicon Valley of the US has assured the Odisha government an investment of $300 million to promote Information Technology (IT) and Electronic System Design and Manufacturing (ESDM) units at the proposed Info-valleyIT park on the outskirts of Bhubaneshwar.
Odisha is the first state in India to tie up with Silicon Valley. This was informed by Ajit Manocha the former CEO of the US-based Global Foundries. A business delegation led by Manocha who is also a member of US President Barrack Obama’s advisory committee on advanced manufacturing informed the Chief Minister Naveen Patnaik that they are all set to give a thust to the economy of Odisha.
It is expected that the investment would create job opportunities for about 100,000 people. The team appreciated the efforts of the state government for creating a favourable environment to attract foreign investment in the IT and ESDM sector. The C.M also promised to provide all support to materialise the investment.
Info-valley, the second IT hub in the city, is being developed by the state IT department through Odisha Industrial Infrastructure Development Corporation (Idco) over an area of 600 acres. The leading IT Company which already has a development center in Bhubaneswar is the anchor tenant of the project.
There is also a proposal to set up a IT Investment Region (ITIR) on an area of 41.32 square km (10,210 acres) between Bhubaneswar and Khurda.
Source- Business Standard
Chief minister, Info Valley, Information Technology, Investment, Naveen Patnaik, Odisha, Odisha government, Silicon Valley, USD
