JAIPUR, MAR 7: The Mahindra group is set to begin work on an ambitious World City here, in step with its promise of providing cutting-edge business facilities in the state.
Called the Mahindra World City, a joint venture between Mahindra Gesco Developers Ltd and the Rajasthan State Industrial Development and Investment Corporation Ltd (RIICO), is being developed as a multi-product special economic zone.

Phase-1 of the project will involve construction of an IT and ITES SEZ spread over 188 acres. The company also plans to develop a technology park within the IT SEZ, which will offer built-up space to sector-specific players.

IT majors Infosys and Wipro have already agreed to develop campuses in the World City. Besides, several leading IT and ITES companies are also keen on setting up shop in the proposed SEZ. Formal agreements are likely to be signed soon.

Jurong of Singapore is the main planner of the project. With the proposed entry of leading IT companies in the World City, Rajasthan is poised to become a major infotech hub.

According to recent surveys, several IT and ITES companies are looking to establish operations in tier-II cities like Jaipur, to reduce costs and tap local manpower.

After completion, the SEZ is expected to generate direct employment for over 1 lakh people and investment of over Rs 10,000-crore.

Apart from information technology, the SEZ will also offer facilities for industries from various sectors, including manufacturing, handicrafts, apparel and textiles, and gems and jewellery.

The group plans to develop world-class warehousing and logistics zones within the proposed SEZ to make Jaipur a logistics hub of northern India.
 

Source : http://www.financialexpress.com/