HCL to set up Rs 1,000-cr IT park at Nagpur

Nagpur, one of the fastest-growing tier II cities in India, has bagged yet another major investment commitment for its special economic zone being developed by the government. HCL Technologies on Tuesday signed an MoU to pump in Rs 1,000 crore to set up an IT campus in Nagpur.

The MoU was formalised by MADC officials and HCL Technologies CEO, Shiv Nadar, in the presence of Maharashtra chief minister Vilasrao Deshmukh. The MADC is developing a multi-modal international cargo hub (MIHAN) in Nagpur, a first of its kind in India. The state government has formed an SPV comprising the MADC and the Airport Authority of India to execute the project.

According to Mr Nadar, the project would generate 10,000 jobs in five years. Recently, US aircraft manufacturer Boeing had firmed up its plan to set up a manufacturing and maintenance facility and a pilot training institute at the SEZ.

MADC will provide basic infrastructure like roads, water supply, sewage system and telecommunication to HCL over the next two years. The SEZ is to generate its own power within 36 months.