The Odisha Government has decided to sign an MoU with Plugg Corporation, California, US, for investment in the electronic system design and manufacturing (ESDM) sector at InfoValley, the State’s second IT park in Bhubaneswar.
The Government is preparing the final draft for the MoU after the Plugg Corporation made some suggestions for modifications in the draft agreement.
“It was decided that they (Plugg Corporation) sign an MoU with the State Government before investment under the ESDM sector in the greenfield electronic manufacturing cluster (EMC) proposed to be set up at InfoValley,” said IT Secretary Pradeep Jena in a letter to Industries Secretary Vishal Dev.
He has asked the Industries Department to finalise the MoU in consultation with the Idco and the Ipicol.
The State Government expects an investment of `5,000 crore in the IT and ESDM sectors in the next five years, sources said.
The InfoValley project to be developed by the Infosys as anchor tenant would be set up in an area of around 613 acres. Out of this, 262.52 acres has been notified as IT SEZ, where the Infosys has set up its second development centre in the city and 215 acres as ESDM Park, the sources added.