Home Retail Odisha to attract Rs 1,000 cr investment for new electronics park

Odisha to attract Rs 1,000 cr investment for new electronics park

By  
SHARE
The state of Odisha is expecting around Rs 1,000 crore investment in the proposed Greenfield Electronics Park, spread over an area of 203 acres, in Bhubaneshwar.
Odisha electronics park likely to attract Rs 1,000 crore investment
The state of Odisha is expecting around Rs 1,000 crore investment in the proposed Greenfield Electronics Park, spread over an area of 203 acres.

The park is ready to house around 100 units of electronics manufacturing cluster with state-of-the-art, infrastructure and common facilities, state Industries Minister said.

The cluster has been given final approval by the Ministry of Electronics and Information Technology in a high-level meeting held on June 17 at New Delhi, he said,

The Odisha Industrial Infrastructure Development Corporation (IDCO) is developing the park and master planning has been done by Jurong Consultants, Singapore, Mishra said.

Core infrastructure like road, provision of power and water for the park is almost ready and finalised. “It is expected to attract an investment of Rs 1,000 crore,” he said.

According to a PTI report: The state government has given 203 acres land in Iarapur and Durgapur of Khurda district and providing around Rs 110 crore.

Electronics manufacturing has been recognised as one of the five focus sectors to attract investment. The state has formulated attractive investor-friendly policies such as Industrial Policy Resolution 2015 and ICT Policy 2014 to facilitate and incentivise investors in electronics manufacturing sector, the minister said.

In addition, the state has a Special Incentive Package Scheme which provides incentives to electronics manufacturing companies over and above the m-SIPS scheme of the Centre.

The project envisages to create an attractive ecosystem for electronics manufacturing industry in the state and boost employment opportunities for the youth in the state.

“Ready-to-use plug-and-play facilities are proposed to be set up in the park with excellent transport connectivity through air, rail and roads,” he said.

This apart, Bhubaneswar is considered an ideal location for the park because of abundant skilled manpower made available through reputed technical and management institutions. The city has also topped the Smart City Challenge of the central government from among the 97 other cities and is emerging as one of the most preferred cities in the country to live in and do business, he said.