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Three developers to vie for Lucknow IT park contract

Source : BUSINESS_STANDARD
Last Updated: Thu, Oct 11, 2012 19:43 hrs

The Lucknow Industrial Development Authority (LIDA) on Wednesday shortlisted three developers to submit financial bids for selection as anchor investor in a proposed information technology (IT) Park in Lucknow.

With an estimated cost of Rs 285 crore, the Lucknow IT Park is proposed to be developed over a 1,30,000 square metre area near the Lucknow airport.

The last date for bidding is November 5.

The shortlist was decided during the LIDA board meeting under the chairmanship of Infrastructure & Industrial Development Commissioner (IIDC) Anil Kumar Gupta here.



TECH RACE
  • With an estimated cost of Rs 285 crore, Lucknow IT Park proposed to be developed over a 1,30,000 square metres
     
  • Selected developer would develop the IT park on a design, finance, build, operate model
     
  • Plot would be leased to the developer for 90 years under proposal
     
  • Aditya Housing & Infrastructure Development Corporation, Hyderabad; Raheja Developers, New Delhi; Patel Engineering, Mumbai; and Apco Infratech, Lucknow expressed interest in bidding to win development contract
     
  • LIDA says Raheja Developers' application rejected as it was not in prescribed format

Four applicants, namely Aditya Housing & Infrastructure Development Corporation, Hyderabad; Raheja Developers, New Delhi; Patel Engineering, Mumbai; and Apco Infratech, Lucknow have expressed interest in the bidding. However, Raheja Developers’ application was rejected, leaving three applicants in fray.

Gupta said that the selected developer would have to take up marketing exercises as well the responsibility to sell the space in the proposed IT park. “The idea is to attract as many units as possible to set up their shops and backend service centres,” he said.

LIDA Additional Chief Executive Officer Subhash Chandra said that Raheja Developers did not submit its application in the prescribed format, which resulted in its rejection.

The selected developer would develop the IT park on a design, finance, build, operate model after approval of a detailed project report by LIDA. It is proposed that plot would be leased to the developer for 90 years.

Meanwhile, the LIDA board also approved a plan to launch a scheme to invite non-polluting industries on 90 acres of land.

LIDA is in the process of obtaining environmental clearance after preparing the layout plan. It has also been decided to make urgent efforts to increase the LIDA land bank.




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