Odisha’s proposal for an electronic manufacturing cluster received a final nod of the Government of India on Friday. The Government of India’s Department of Electronics and Information Technology finally approved the proposed cluster to be located at the Infovalley complex in Bhubaneswar.
The cluster would come up on 203 acre of land in the information technology hub. The project cost would be Rs205.17 crore. Out of this, the Centre would give a grant of Rs95.11 crore; promoters’ contribution would be Rs53 crore; grant-in-aid by the State Government would be Rs25 crore; and rest would be from loan.
Funds will be spent on creating common infrastructure for about 100 units to be housed in the cluster. Nine potential investors have shown interest for the cluster.
Apart from developed land, road, power, water and recreation facilities, the park intends to provide common facilities for training, incubation and R&D activities to the interested entrepreneurs.
An SPV named Odisha Electronics and IT Parks ltd has been formed for developing the project.
As per the India Electronics and Semiconductor Association (IESA), the park is expected to attract industries with combined investment value of Rs1,000 crore and create employment potential for 10,000 to 12,000 persons.
The products of the units to be located in the park would range from manufacturing of solar panels and printed circuit boards to mobile handsets and accessories, sources said.
The units would be eligible for sops provided under the State’s Industrial Policy Resolution (IPR), 2015 such as VAT, electricity duty and EPF reimbursement, etc.