The central government on Tuesday gave its approval on the information technology investment region project said chief minister BS Yeddyurappa.
The park would be set up between Chikkaballapur and Doddaballapur near Bangalore international airport.
The project has already received investment proposals worth about 11000 crores from IT firms, and over 55 companies proposing to invest about 124 billion rupees in this sector. Investment of about 1353 crore has also been proposed by the biotech firms.
Some of the firms that have invested include Wipro, Tata Elxsi and Infosys said Katta Subramanya Naidu, the minister of IT and BT.
“The ITIR will come upon a geographical area of about 40 square kilometers and will spread across 10,000 acres. Over 57 IT companies, including Infosys and Wipro, have evinced interest in setting up operations in the region. The ITIR will be an integrated IT city with excellent physical and social infrastructure” he said.
He said that this project would be taken over by the management board with apex bodies to take right decisions on all subjects relating to this project.
The project is yet to receive approval from the central government, and once the approval is received, the project will contain representatives of the central as well as the state government.
“The region will have an integrated township with modern amenities, especially road and metro rail connectivity to ferry people faster between the city and Devanahalli, about 35-40 km away,” Naidu said.