Silicon Valley team to invest $ 300 million in Odisha

BHUBANESWAR: A team of investors from US-based Silicon Valley today assured Chief Minister Naveen Patnaik of an investment of $ 300 million in Odisha.

A team of investors led by Ajit Monancha expressed interest to invest in Information Technology and Electronics System Design and Manufacturing sector in Odisha's Info Valley here.

"The investment of $ 300 million in IT and ESDM sector would generate employment for 1 lakh people," a release issued by the Chief Minister's Office said.

The visiting team appreciated the efforts of Odisha government in creating a favourable atmosphere to attract foreign direct investment in IT and ESDM sector, the release said.

The state government has developed an IT investment hub over 215 acre area at InfoValley. The Centre has already given its approval for its development.