Odisha govt to ink MoU with US firm for investment in ESDM sector

Sambad English Bureau Published On : Oct 25, 2014 at 3:14 PM Updated On : Oct 25, 2014 at 4:21 PM

Reported by Chinmaya Dehury
Bhubaneswar, Oct 25:

The Odisha government has decided to sign a Memorandum of Understanding (MoU) with Plugg Corporation, California, USA for investment in the electronic system design and manufacturing (ESDM) sector at Info Valley, the second IT park of the state.

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The government is preparing the final draft for the MoU after the Corporation made some suggestions for modifications in the draft agreement.

“It was decided that they (Plugg Corporation) sign a MoU with the state government before investment under ESDM sector in the Green Field electronic manufacturing cluster (EMC) proposed to be set up at Info-Valley,” said IT secretary Pradeep Jena in a letter to Industry secretary Vishal Dev.

He has asked the Industry department to finalise the MoU with the advice of Industrial and Infrastructure Development Corporation (IDCO) and Industrial Promotion and Investment Corporation (IPICOL).

The state government expects an investment of Rs 5000 crore in IT and ESDM sectors in the next five years, sources said.

The Infovalley project to be developed by Infosys as anchor tenant would be set up on an area of around 613 acres. Out of this, 262.52 acres have been notified as IT SEZ where Infosys has set up its second development centre in the city and 215 acres as ESDM Park, the sources added.