 "Idco seeks industry contribution for Info-valley EMC")
The stipulated industry contribution for the proposed cluster is one of the prerequisites for getting the Union government’s final approval for the project.
The Department of Electronics and Information Technology (DEITY) under the Union Ministry of Communications and Information Technology has accorded in-principle approval for the cluster to be developed over 215.76 acres of land at Info-valley complex, on the outskirt of Bhubaneswar.
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IESA is assisting the state government for setting up the EMC under the Electronic Manufacturing Clusters Scheme of DEITY.
Other requirements to be complied within six months of getting the in-principle nod to obtain the formal approval from DEITY are formation of the SPV (special purpose vehicle), procurement of land for the project, preparation of drawings and designs of the work and their detailed cost estimates and a firm implementation schedule (component/activity wise) specifying milestones and time lines.
Idco has already initiated steps on formation of SPV and procurement of land.
“You are requested to take necessary actions to meet the compliances for obtaining final approval. A detailed note on activities to be undertaken by IESA with timelines to meet the compliances for final approval, may be submitted to Idco with a weeks’ time”, an Idco letter to Rajiv Jain, vice president (government affairs), IESA read.
The proposed green field EMC cluster in Khurda district, is expected to house over 100 electronics manufacturing units.
The cost of the project is estimated at Rs 209.64 crore while the aggregate investment in the cluster is projected at Rs 979 crore, which includes investment by individual units in plant, machinery and park infrastructure.
IESA has engaged IL&FS Clusters for preparation of the Detailed Project Report (DPR) for the project.
A grant of Rs 96.96 crore has been approved by DEITY for the cluster development that has potential to create 10,000 -12,000 jobs.