MoU to set up township for IT professionals at Hinjewadi

Mumbai, June 26 (UNI) A township to promote 'walk to work culture' for software professionals working in MIDC IT parks will be developed in Hinjewadi, near Pune, in association with New York-based Vornado Realty Trust.

An MoU for setting up the township was signed between Maharashtra Industrial Development Corporation (MIDC) and US based Vornado Realty Trust in New York yesterday.

A new company Vornado Hinjewadi Township Pvt Ltd will be set up for the purpose. The MoU was signed by MIDC, CEO Rajiv Jalota and Vornado Realty Trust, President Michael Fascitelli in the presence of Chief Minister Vilasrao Deshmukh, who is on a ten day visit to the US to promote the state as an investment destination.

This agreement paves the way for an investment of around 200 million dollars, over a period of five years at Hinjewadi for development of an integrated township to promote 'walk to work culture' for software professionals working in MIDC IT parks.

Vornado is famous for creating world class infrastructure and is credited with creating the globally renowned Crystal City in Washington DC and the Bloomberg towers at New York. Vornado realty trust is the third largest real estate investment trust in US, a press release issued by the Chief Minister's Office here today said.

Mr Deshmukh's delegation comprises Industries Minister Ashok Chavan, Chief Secretary Johnny Joseph, Principal Secretary to the Chief Minister U C Sarangi and Industries Secretary V K Jairath among others.

UNI