LIDA kicks off selection process for IT park developer

The board also cleared some basic criteria that would have to be met for the IT park. These include giving the land to the developer on lease for 30 years,which,if found necessary,can be further extended upto 30 more years and establishing residential facility inside the park for IT professionals and other staff working in establishments inside the park.

“It has been decided to develop the park on ‘walk to office concept’,where,apart from the official space,service apartments would also be built exclusively for employees of IT businesses set up in the park,” said Industrial Development Commissioner Anil Kumar Gupta. He also said the residential apartments,too,would be leased to employees.

The developer would be required to develop IT towers,conference and banking facilities,restaurants,kiosks,guest houses,travel services,power sub-stations,export related facilities,creche for children,training centres,health clubs,etc. in order to attract IT professionals and big IT companies for establishing their business set-up inside the park.

Pradeshiya Industrial & Investment Corporation of UP has been made the transaction advisor for the entire project.

Gupta informed that the UP government has also decided to develop Lucknow and Kanpur as industrial corridor and the approval for the same has also been received from the NCR planning Board. Sources said the Board provides certain funds for development of certain regions as counter-magnet areas but there was a long pending complaint that UP had failed to utilise that fund. As a result,three sites were suggested by UP government — Bareilly,Lucknow and Kanpur. While Lucknow and Kanpur have both got clearance from NCR planning,the government has decided to develop it as a industrial corridor and IT park would be part of it.