Karnataka to raise Rs 1,000 crore for IT investment region project
Jul 23, 2013
Source : The Times of India

 

BANGALORE: Karnataka plans to raise a loan of Rs 1,000 crore to acquire land for the Information Technology Investment Region (ITIR) project. The project is to come up near theKempeGowda International Airport.

Karnataka IT/BT minister SR Patil told the Legislative Assembly that a notification had been issued to acquire 2,072 acres for the project for which the Karnataka Industrial Areas Development Board (KIADB) is raising the funds.

ITIR is to be spread over a 40 sq km area with plans for the acquisition of a total 10,500 acres in the Devanahalli and Doddaballapur taluks. The project is proposed to be taken up in two phases – from 2012 to 2020, and from 2020 to 2032.

Once the acquisition process gathers pace, the government intends to develop the remaining 7,500-plus acres needed for the mega project in association with private parties and develop it through developers,” Patil said in response to a question from Jagadeesh Kumar R of BJP who raised the issue during question hour.

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