IT City: Govt signs MoU with Vama

With the aim to develop lucknow as an IT City, the state Government has signed an agreement with M/s Vama Sundari Investment (Delhi) Pvt. ltd., the investment company of HCl which will act as the developer.

The agreement was signed between Chief Secretary Alok Ranjan and Pawan K Danwar on behalf of Vama Sundari Investment (Delhi) Pvt ltd. on Friday. 

As per the IT City concept, 60 per cent land use under Core Zone Area shall be for the core IT activities whereas the remaining 40 per cent land is proposed to be used for other non-core activities.

The first milestone of the project is proposed to be completed in 5 five years from the start of construction, which would include development of basic infrastructure like land-levelling, internal roads, sewage, drainage, water and electricity supply, laying of optical fibre cables within the project area, setting up of IT unit by the anchor investor in 30 acre land area and setting up of skill development centre in 10 acre land area, Alok Ranjan said in a statement issued here. 

“The second milestone of the project is proposed to be completed in 10-year period of the project, which will include development of other IT units and non-core area on the remaining land area,” he said.The skill development centre (SDC) would be set up within the IT City on 10 acre area to train unemployed youth so that they may generate employment. The centre would have hostel facility and would train 5,000 students.

“In the initial year, the SDC will impart training to 1,000 students and the number will be increased to 5,000 students. The domicile students of the state enrolled in SDC will get 50 per cent aid from the state Government in tuition fees, subject to a maximum Rs 5000 per month,” Ranjan said.The IT companies of IT City lucknow would be eligible for all fiscal and non-fiscal incentives available under IT Policy-2012 and an interest subsidy of Rs 25 crore per annum would be available to the developer of IT City as special incentive, the Chief Secretary said.