Thursday, November 12, 2009

Bangalore will have a sibling in Devanahalli

Bangalore will have a sibling in Devanahalli

A total investment of about Rs1.15 lakh crores is set to be pumped into Devanahalli, making this once-sleepy village a sister city to Bangalore. The multi-billion dollar information technology investment region (ITIR) set to come up here will be the 'mother of all investments'

Praveena Sharma & PK Surendran. BANGALORE

A sleepy village not so long ago, Devanahalli is all set to be a sister city to Bangalore with major investments pouring in for development.
A cumulative of close to Rs1,15,000 crore worth of investment will see this once sedate location booming with activity to compete with Bangalore in terms of business and social life. And this is apart from the investments coming in from the hospitality industry and the entertainment sector, that is expected to prop up this place as an ideal social location in addition to an industrial hub.
As part of the endeavour to see Devanahalli rise to rub shoulders with Bangalore, IT&BT minister Katta Subramanya Naidu on Wednesday laid down an ambitious deadline of mid-2010 for the information technology investment region (ITIR), a major IT hub, to be functional.
This project alone is expected to draw a whopping Rs1,00,000 crore in investment. The state government has identified the area in Devanahalli taluk where about 10,000 acres of land would be acquired to set up the ITIR, Naidu said on the sidelines of the IT.Biz. The Centre has already cleared the ITIR early last year.
The ITIR, with its huge expected investment, is already being considered as the 'mother of all developments' in Devanahalli.
With the ambitious ITIR deadline being announced by Naidu, the contours of 'New Bangalore', on the lines of Navi Mumbai, have emerged clearer.
Also among the major projects reported to have received the Udyog Mitra clearance for the Aero SEZ (special economic zone), an aviation hub in Devanahalli, is expected to see major US civil and military aviation companies as well as the European Aeronautics and Defence Systems (EADS) pump in up to Rs11,700 crore as investment. The Indian initiatives at the SEZ would see Rs666 crore of investment from Sobha Nadathur Aerospace Pvt Ltd (Rs200 crore) and Dynamatic Technologies, manufacturers of hydraulic equipment (Rs466 crore).


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