Karnataka govt seeks co-developers for 250 cr IT SEZ project
Updated: Jun 06, 2013 04:56:52pm
Bengaluru, Jun 6 (KNN) The Karnataka Government has sought bids from co-developers to join hands with them for the development of IT-Special Economic Zones (SEZ) in Shimoga.
“Karnataka State Electronics Development Corporation Limited (KEONICS), on behalf of the Government of Karnataka intends to develop IT-SEZ along with co-developer in about 36 acres of land located on NH 206 between Shimoga and Bhadravathi,” said the Director, Operations of KEONICS in a notification.
The proposed IT SEZ site is situated in Karnataka Industrial Areas Development Board (KIADB) layout with close proximity to Bhadravati-Shimoga NH-206 and is two kms from the proposed airport and six kms from Shimoga Railway Station.
The 250 crore project at Shimoga by KEONICS has been approved by the Ministry of Commerce and Industries.
While basic infrastructure like power, water, roads, drains, single entry/exit point will be provided by KEONICS, it has called for the co-developers to develop the area. KEONICS has been authorised to sub-lease to export units.
“KEONICS seeks to select Export unit or co-developers who shall design, finance, build market, and operate and transfer the asset created at the end of the 99 year lease term,” said the notification.
The developer has an option to take up commercial, residential and other social infrastructures in non-processing areas not exceeding 40 per cent of the land allotted in SEZ.
KEONICS IT-park, the phase-I project of 70,000 sq ft had commenced from October 2010, while a UK based BPO is already in place developing around 2 lakhs sq ft of IT works space.
The electronics body focuses on setting up world-class infrastructure for the electronics and IT related industries in the state. Its solutions span the areas of ERP solutions, web portals, software development, IT consultancy, IT training and networking.
India is among the first in Asia to recognize the effectiveness of the Export Processing Zone (EPZ) model in promoting exports, with Asia's first EPZ set up in Kandla in 1965.
With a view to overcoming the shortcomings experienced on account of the multiplicity of controls and clearances; absence of world-class infrastructure, and an unstable fiscal regime and with a view to attract larger foreign investments in India, the SEZs Policy was announced in April 2000.
A SEZ is a geographical region that is designed to export goods and provide employment. SEZs are exempt from federal laws regarding taxes, quotas, FDI-bans, labour laws and other restrictive laws in order to make the goods manufactured in the SEZ at a globally competitive price. (KNN)
“Karnataka State Electronics Development Corporation Limited (KEONICS), on behalf of the Government of Karnataka intends to develop IT-SEZ along with co-developer in about 36 acres of land located on NH 206 between Shimoga and Bhadravathi,” said the Director, Operations of KEONICS in a notification.
The proposed IT SEZ site is situated in Karnataka Industrial Areas Development Board (KIADB) layout with close proximity to Bhadravati-Shimoga NH-206 and is two kms from the proposed airport and six kms from Shimoga Railway Station.
The 250 crore project at Shimoga by KEONICS has been approved by the Ministry of Commerce and Industries.
While basic infrastructure like power, water, roads, drains, single entry/exit point will be provided by KEONICS, it has called for the co-developers to develop the area. KEONICS has been authorised to sub-lease to export units.
“KEONICS seeks to select Export unit or co-developers who shall design, finance, build market, and operate and transfer the asset created at the end of the 99 year lease term,” said the notification.
The developer has an option to take up commercial, residential and other social infrastructures in non-processing areas not exceeding 40 per cent of the land allotted in SEZ.
KEONICS IT-park, the phase-I project of 70,000 sq ft had commenced from October 2010, while a UK based BPO is already in place developing around 2 lakhs sq ft of IT works space.
The electronics body focuses on setting up world-class infrastructure for the electronics and IT related industries in the state. Its solutions span the areas of ERP solutions, web portals, software development, IT consultancy, IT training and networking.
India is among the first in Asia to recognize the effectiveness of the Export Processing Zone (EPZ) model in promoting exports, with Asia's first EPZ set up in Kandla in 1965.
With a view to overcoming the shortcomings experienced on account of the multiplicity of controls and clearances; absence of world-class infrastructure, and an unstable fiscal regime and with a view to attract larger foreign investments in India, the SEZs Policy was announced in April 2000.
A SEZ is a geographical region that is designed to export goods and provide employment. SEZs are exempt from federal laws regarding taxes, quotas, FDI-bans, labour laws and other restrictive laws in order to make the goods manufactured in the SEZ at a globally competitive price. (KNN)
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