By IANS
Jaipur : The Vatika group has signed a memorandum of understanding (MoU) with the Rajasthan government to develop a special economic zone (SEZ) for IT in the state.
The MoU was signed at the Rajasthan Resurgent Summit that started here Friday. The Rajasthan government has organised the summit to attract investments.
The Vatika IT SEZ will be part of the Vatika Infotech City, an IT-based integrated township on the Ajmer Expressway.
The township will be spread over 808 acres already acquired by the company.
“Out of this, the IT SEZ will be developed over an area of 53 acres and will comprise buildings with floor area totalling 6.5 million sq ft,” said Pankaj Pai, president, sales and marketing, Vatika.
The SEZ will house about 65,000 professionals and support staff.
“It is expected to attract investments of about Rs.10 billion,” said Pai.
The disbursement of funds has already started and the infusion shall be completed by the end of the first quarter of 2008, he added.