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Hewlett-Packard opts out of Bangalore SEZ

Hewlett-Packard opts out of Bangalore SEZ
PTI
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First Published: Wed, Feb 21 2007. 05 41 AM IST
Updated: Wed, Feb 21 2007. 05 41 AM IST
New Delhi/Mumbai: IT giant Hewlett-Packard has decided to drop its plans for a special economic zone (SEZ) in Bangalore following changes in the government norms on the minimum area requirement. On the other hand, IT services company HCL Technologies Ltd said it has signed a memorandum of understanding (MoU) with the Maharashtra government for allotment of 170 acres at a Nagpur-based SEZ.
Initially, HP wanted to set up SEZ over an area of 60,000 sq. m. However, later the minimum built-up area of an IT, IT enabled services and electronics SEZ was revised upwards to 1 lakh sq. m. on the directive of the empowered group of ministers. The Maharashtra Airport Development Company (MADC) said HCL will create at least 10,000 jobs in Nagpur. MADC has allotted 140 acres for the IT centre, while 30 acres has been allocated for developing residential colonies for staff working at the IT centre.
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First Published: Wed, Feb 21 2007. 05 41 AM IST