Millennium Business Park launched

By Our Staff Correspondent

MUMBAI, FEB. 2. The Maharashtra Industrial Development Corporation (MIDC) today officially launched its Millennium Business Park (MBP) - India's largest IT park, with two million salable square feet.

Spread over 48 acres, the MBP has 32 buildings in the complex, customised to suit individual buyer requirements. Out of the one million sq. ft. already sold, the Bombay Stock Exchange has bought 40,000 sq. ft., Datamatics 1.65 lakh sq. ft., the Herdillia group one lakh sq. ft., Mastek 80,000 sq. ft., Rolta India one lakh sq. ft., CMC 60,000 sq. ft. and Aptech 50,000 sq. ft.

Addressing a press conference on the MBP launch, Dr. Patangrao Kadam, Minister for Industries and Water Conservation, Maharashtra, said, ``The Government of Maharashtra is totally committed to providing IT infrastructure of international standards via Maharashtra Industrial Development Corporation (MIDC), with a view to ensuring that the State acquires its rightful place on the top and capitalise on the tremendous potential that exists here. The development of the Mumbai-Pune Knowledge Corridor and a series of IT parks along this corridor as well as at places such as Nagpur, Aurangabad and Nashik are rightful steps in this direction.''

Compared to similar IT parks in the country, the MBP is not only the largest, but also offers custom made and sophisticated facilities combined with the best possible pricing. ``The size of the MBP can be gauged from the fact that the next largest IT park is in Whitefield, Bangalore, which is spread over one million sq. feet and the hi-tech city in Hyderabad which is spread over 6 lakh sq. ft.'' said Mr. Jayant Kawale, chief executive officer, MIDC.

MIDC is offering extremely attractive payment terms to corporations settling at the MBP with low pricing, deferred payment schemes at reasonable interest rates spread over seven years, combined with a two year moratorium. Purchasers of prominently large property area are also offered the double benefit of opting for property at the prestigious SEEPZ complex at Andheri.

Mr. Jaidutt Kshirsagar, Deputy Minister, Industries, Government of Maharashtra, said the government would act more as a facilitator rather than a regulator to encourage industrial development here. ``Proposals to set up IT parks at Nahsik and Nagpur are also on the agenda.'' he said.

The State Government has declared 1999 as `IT Year' and Maharashtra continues to top the investment list in the IT sector. With the launch of the Millenium Business Park, the state is taking one more step in its endeavor to retain this position. As an integral part of several related activities, the state is developing the Mumbai-Pune corridor as the Knowledge Corridor, as most of Maharashtra's strengths in IT are concentrated along this stretch. Maharashtra State Road Development Corporation (MSRDC) is developing an Intelligent Super Highway between Mumbai and Pune. This unique expressway will have the most advanced electronic surveillance system, making it one of the safest roads in the world. A fibre optic cable network is also being laid along the expressway.

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Section  : Business
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