Knowledge park to come up in Kanpur suburb

The UP State Industrial Development Corporation (UPSIDC) and Infrastructure Leasing & Finance Services (IL&FS) are coming together to establish a "Knowledge Park" in Mandhana, a suburb of Kanpur, on the Kanpur-Delhi Highway.

Balvinder Kumar, managing director, UPSIDC, told Business Standard, "We are taking permission from the Uttar Pradesh government to form a special purpose vehicle (SPV) and advertise for the appointment of a consultant for the project.

Kumar said IL&FS had taken the initiative to form such a park in private-pubic partnership.

"We keep getting entrepreneurs who are keen to establish various educational institutions and colleges and they need land. Some of them have been accommodated in industrial parks. But all of them cannot be accommodated due to lack of large tracts of land. them. Once this knowledge park comes up, it is going to fulfil land requirements of these institutions," Kumar said.

Kumar has been able to convince the farmers of the area to sell their land to the UPSIDC at Rs 390 a square metre. The total land sought to be acquired is 250-300 acres.

UPSIDC is pursuing its land acquisition projects at various places. Once these are through, says Kumar, the real activity will begin.

The UPSIDC is in the process of acquiring about 3,000 acre at Chola, of which 1,400 acre will be given to Tata group for establishing a 1000-Mw power project from which UP will get 40 per cent power. For the Kanpur SEZ, 1,216 acre is to be acquired on the left bank of the Ganga.

In Naini, close to Allahabad, 560 acre is to be acquired for various projects. Another 250 hectare is being acquired in Hapur for a leather technology park. Once these acquisitions are through, the UPSIDC plans to move quickly to establish industries.