The ‘Hi-Tech Electronic City’, proposed to be developed within the 10,000-acre Andhra Pradesh-based Lepakshi Knowledge Hub (LKH) at Anantapur, is expected to attract investments of more than 11,000 crore and create employment for 75,000 people in the next five to 10 years, according to S Balaji, managing director of LKH.
LKH has formed a joint venture with Global Emerging Markets (GEM), a $3.4-billion alternative investment group headquartered in Geneva, and Vittal Innovation City (VIC) led by N Vittal, former secretary, Union electronics and telecommunications ministry, to develop the electronics city.
An MoU has also been signed between the state government and the joint venture partners for the electronic city at the Partnership Summit on Friday. While GEM will bring in investments, VIC has already prepared the concept master plan and will develop the project along with LKH.
“Apart from the electronic city, LKH will house several industry clusters. These are in different stages and will be ready in the next five to 10 years,” Balaji said.
