LIDA board clears three companies to bid for development of IT park

The decision was taken today at the board meeting of Lucknow Industrial Development Authority (LIDA),which is the nodal authority for construction of the park. The board also fixed November 5 as the last date for submission of financial bids by the selected three companies and decided that along with the development of infrastructure,the developer would also be required to take up “marketing” of the park to attract IT companies to set-up their units.

Aditya Housing & Infrastructure Development Corporation Pvt Ltd of Hyderabad,Raheja Developers of New Delhi,Patel Engineering Ltd of Mumbai and Apco Infratech Ltd of Lucknow had submitted their applications after the Uttar Pradesh government had invited expression of interest document for the project on June 27,2012.

The government was supposed to finalise the developer in the month of August itself but as only two developers had expressed their interest initially,the process was delayed.

On Wednesday,out of these four applications,application of Raheja Developers was rejected by the LIDA board citing reason that their application was not in the “prescribed format”. Thus,the final bidding process would take place between three developers on November 5.

Infrastructure and Industrial Development Commissioner Anil Kumar Gupta informed that it was also decided at the board meeting that along with development of infrastructure,the selected developer would also be required to take up marketing exercise to sell the space in the proposed park to interested IT companies.

It has also been decided that 32 acres of LIDA land,on which the park would be developed,would be given to the selected developer on a lease of 90 years. The developer would be required to make investment of Rs 285 crore to develop basic infrastructure and facilities at the park to attract IT companies.