Gulf Oil gets approval to build IT Park

Gulf Oil gets approval to build IT Park

Mumbai: Gulf Oil Corporation Ltd, a Hinduja Group company, on Monday said it has received an approval from Karnataka Udyog Mitra to build an IT Park on its 40 acres plot at Yellahanka.

The approved master plan prepared by the Indian arm of Singaporean Architects -- RSP Architect Planners and Engineers -- sprawls over a total area of 5 million sq. ft and is situated on the Bangalore-Hyderabad Highway, the company informed the Bombay Stock Exchange.

“The location would be highly suitable for international organisations to make it their business destination," Gulf Oil Corporation said in a communiqué to the Bombay Stock Exchange (BSE).

The park having supporting infrastructure for shopping, hospitality and entertainment would provide full facilities needed by knowledge industry players, Gulf Oil Corp added.

The actual development of the park would be jointly undertaken by the company and Aasia Properties Development Ltd (APDL), Hinduja Group’s property arm.

The company had also announced the development of a Knowledge City at Hyderabad spread over 100 acres, the plan has been conceptualised and necessary approvals sought from the Andhra Pradesh government.

Shares in the company were last trading 5.14%, up at Rs321.20 on the BSE.