The investment arm of homegrown IT major HCL Technologies has been selected to develop the proposed IT City in Lucknow.
The project, which has been propped up by state chief minister Akhilesh Yadav, is estimated to cost Rs 1,500 crore.
HCL arm Vamasundari Investments would develop the project under the public private partnership (PPP) model. The decision was taken at the state cabinet meeting chaired by Yadav.
Earlier, 100 acres land had been transferred to the state IT department at Chak Gajaria on Lucknow-Sultanpur highway in Lucknow district.
The concessionaire would be given two milestones under the project, state principal secretary IT Jiwesh Nandan said.
Vamasundari Investments was the only company that could qualify till the final stages.
“The government decided to award the project to it since it had qualified in all the technical parameters. Besides, HCL has significant investments in the state,” state chief secretary Jawed Usmani said.
The company would be required to form a special purpose vehicle (SPV) to build development and skill development centres over 30 acres and 10 acres respectively in two to four years.
The skill development centre would enhance the employability of youth in IT sector.
IT City is estimated to generate 25,000 fresh jobs in IT and allied sectors once it is completed.
Earlier, the Centre had granted the status of Special Economic Zone (SEZ) to the proposed IT City, which is aimed at boosting IT investment.
Soon after coming to power the government had announced to set up an IT City and an IT Park in Lucknow to allow the state capital to emerge as a major IT destination. It had announced similar infrastructure to be developed in Agra as well in future.
