Haryana clears Rs.1488 crore European Technology Park for Faridabad
CHANDIGARH: The Haryana Investment Promotion Board has accorded its approval in principle for setting up of the European Technology Park costing over Rs. 1448 crore in 500 acres of land in village Manger in district Faridabad or any other suitable location.
The Chief Minister said on Tuesday that the main concept of setting up of this project was to attract the European companies to establish their high-end research development related activities in the field of Bio-technilogy, Engineering, Finance, Pharma and other scientific areas. He said that this project would bring Foreign Direct Investment to the tune of 80 per cent of the total investment in the State. He said that this project would have different zones such as commercial zone, residential zone, academic zone, entertainment zone and facilities zone.
The Financial Commissioner and Principal Secretary, Industries, P.K. Chaudhary apprised the Chief Minister that after setting up of European Technology Park about two lakh persons would get direct and indirect employment opportunities and the project would be implemented in two phases over a period of seven years.
A Statement of Interest (SOI) had already been signed between the Haryana State Infrastructure and Industrial Development Corporation (HSIIDC) and the Dutch Haryana Business Consortium on October 10, 2006 in Amsterdam (Netherlands). He said that the Board had accorded the approval that the project would be set up through a Special Purpose Vehicle to be jointly incorporated by the HSIIDC and the Dutch Haryana Business Consortium. The HSIIDC would get Sweat Equity equivalent to 10 per cent of the shareholding in the Project.