| The company, according to a senior official in the department of information technology, has said it will invest Rs 10,000 crore to complete this project in a phased manner, spending Rs 2,000 crore over five years. |
| "The state government has given in-principle clearance to the project," a government spokesperson said. |
| The company has plans to develop the IT SEZ over 265 acres in 10 years, developing 1 million square metres each year. |
| The IT SEZ will have 6 million square metres for the IT park, etc. |
| "The company has identified a plot, which includes private as well as government land, in Bagarda village of Indore. It has asked the government for this plot," said the official. |
| The state government will have grant permission to the firm to utilise the privately-owned land for public purposes by making amendments to the Land Acquisition Act of 1894. |
| From being a trading firm to a professionally managed manufacturing company, the group has a presence in infrastructure support. It manufactures sub-merged arc welded pipes for oil and gas firms, power generators and petro-chemicals units. |
| The Man group's turnover was $400 million, the official said, adding, "the Project Implementation and Clearance Board (PICB) has given in-principle approval and has forwarded the proposal to the Board of Approvals of the Union ministry of commerce." |
| The company will be offered concessions and sops, announced in the recently launched State Information and Technology Policy. |
| Though several private companies have shown interest in setting up private SEZs in the information technology sector in Indore, the government-created IT SEZ in Indore has no takers so far. |
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