Infosys Technologies Ltd, ICICI Personal Financial Services Ltd and Hughes Software have sought clearance from the Karnataka government to set up software technology parks in the state.
While Infosys plans to set up a park and software development centre near Mysore at a cost of around Rs 48 crore, the investment by both Hughes Software and ICICI have not been disclosed.
These proposals are expected to come up for clearance at the global investors meet scheduled to start here from June 5.
Plans to set up a software park is part of a larger move by Infosys to expand its facilities to meet its anticipated growth. Currently, the company is planning new facilities in Bangalore, Bhubaneshwar, Chennai, Mangalore and Pune. Most of these facilities are expected to be operational within 24 months.
The company intends to create new software development centres in various places partly to shift the operations which are in the existing leased facilities and partly to expand the existing capacities.
Infosys intends to spend around Rs 200 crore on various capital expenditures
during the 2001 financial year and the
same would be met out of internal
accruals and existing cash balances of the company.
Among the other investment proposals, Ramanashree Comforts Ltd has proposed to set up a Rs 17 crore software technology park in Mysore and a Rs 20 crore park in Bangalore; RPG Cables Ltd is planning to set up an optic fibre cable unit at a cost of around Rs 26 crore, Liberty Investment Pvt Ltd, which plans to set up a refined oil project at a cost of Rs 45 crore, and Concepta Cables Ltd plans to set up an optic fibre cable project at a cost of Rs 20 crore.
A Karnataka government official said the state plans to unveil a new industrial policy.
He said the new policy will aim at strengthening the infrastructure in the state but will not dole out any incentives to the industries for setting up their projects.
However, incentives will be given out to those companies which plan to set up their projects in the backward areas. He also said that for the first time the new industrial policy will be based on human development index of the state. It will be based on per capita income.
