New Delhi: India’s leading real estate firm by market capitalization, DLF Ltd, said it would invest about Rs1,000 crore in setting up a special economic zone (SEZ) for information technology (IT) firms.
The zone, to be built in Nagpur in Maharashtra, is expected to be operational in three years, the company said in a filing with the Bombay Stock Exchange on Wednesday.
This is DLF’s first IT zone at Nagpur.
DLF is developing the zone on 140 acres of land. This IT park, which has been approved by the government, is part of the 3,250 acres multi modal international hub airport SEZ project at Nagpur.
The airport project is part of the city’s master plan comprising an information technology city, a health city, a captive power plant and other manufacturing and value-added units.
The project is adjacent to the international hub airport at Nagpur.
The zone would house international and national informational technology companies. “The project has the potential to generate 50,000 jobs directly or indirectly,” a DLF spokesperson said in a statement.
In a separate announcement, DLF said it has secured the Durgapur integrated township project in West Bengal, a public-private partnership project that would attract investment up to Rs4,000 crore.
Besides the Durgapur project, the company is also developing a 5,000-acre township, a textile SEZ, two IT parks and hotels in Kolkata.