DLF to invest Rs 1000 crore for SEZ in Orissa

Bhubaneswar, Nov 10 (UNI) India's leading real estate developer DLF Limited today signed an agreement with the Orissa government to set up Special Economic Zone at an investment of Rs 1000 crore.

The SEZ, the first of its kind in the state, would be dedicated to the Information and Technology.

The project would be located close to the Info City.

The Industrial Infrastructure Development Corporation(IDCO) and the DLF had entered into a lease-cum-development agreement for developing 54 acres of land.

The project envisaged a construction of 4.12 million square feet of the built up space of which a minimum 60 per cent would be dedicated to the Information technology.

The land as per the agreement would be made available to the DLF on 70 years lease basis at a consideration of Rs 44 crore whereas the cost of the project would be around Rs 1000 crore.

DLF Chief Executive Commercial Yogesh Sharma signed the MoU with IDCO Chairman I Srinivas in presence of Chief Minister Naveen Patnaik, Industries Minister B B Harichandan and other senior officials of the state government.

Mr Sharma said the decision to partner with the Orissa government was apart of the DLF's over all initiative to drive national information technology work place boom.

He hoped the city would fulfill the requirements that IT companies were looking.

The DLF, he said, was planning a big foray into the SEZs and had already received government approvals for four of its projects. The DLF, Mr Sharma said, had chalked out plans to invest Rs 30,000 to Rs 40,000 crore over the next ten years for setting up of at least six SEZs across the country.

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