With the improvement in economic conditions, the Uttarakhand government has launched renewed efforts to set up an IT park here that includes a cyber tower in a joint venture with a Banagalore-based infrastructure company IDEB.
“We have launched efforts to revive the IT park,” said industries and IT Minister Bansi Dhar Bhagat. The fate of the IT park is hanging in balance for the last couple of years.
Bhagat also said all those companies which had not set up shops so far in the park had been served show-cause notices. Only three companies had so far started operation, he said. A total of 19 companies have so far been allotted land. in the park.
An agreement had been signed between the State Infrastructure and Industrial Development Corporation of Uttarakhand Limited (Sidcul) and IDEB to develop the cyber tower in 2006. But no progress could be made owing to the economic slowdown with IDEB facing difficulties in raising funds, Bhagat noted.
The company christened as Sidcul-IDEB Project Company Pvt Ltd is a special purpose vehicle (SPV) with Sidcul holding 49 per cent of the equity, the rest being held by IDEB.
Since Uttarakhand is known to be a knowledge hub of the north, home to some of the country's oldest and most prestigious institutions and research centres, Bhagat said the government was committed to providing opportunities to youths to find quality employment within the state through the IT park.
The IT park, when fully developed, will have 3.5 million sq feet of ready to move in office space with the state-of-the-art facilities. Uttarakhand has seen unprecedented growth in the manufacturing sector and is working keenly to ensure more investments in the various sectors like industries and services.
The Doon Cyber Tower represents 500,000 sq feet of workspace with cutting edge facilities and stimulating ambience, the convergence of the civil engineering expertise of IDEB and the investor-friendly policies of Sidcul.