Bangalore to get a 300-acre hardware park soon

BANGALORE, INDIA: Bangalore will get a brand-new hardware park at an estimated cost of Rs. 650-750 crore, near its international airport soon.

The Government of Karnataka (GoK) is looking at promoting hardware development to complement the work of software companies through this park, which would come up in an area of 300 acres.

Ten-fold returns in store

On the sidelines of the launch of India's premier ICT event, Bangalore IT.biz 2012, on Tuesday here, M.N. Vidyashankar, Principal Secretary, Department of Industries and Commerce, GOK, said that over 50 companies had already evinced interest to be in the park. "We are spending about Rs. 650-750 crore for land and development, and would be able to make the money by selling it to interested companies. The revenues from the companies, which are planning to set up operations here, could well be over 10 times our investment," he added.

According to Vidyashankar, the city had become a frequent stop for Taiwan-based computer and electronics manufacturers. He divulged that the work on the hardware park would begin from September and the contract for developing the property had been given to Ascendas.

"Only 55 per cent of the total land can have concrete structures and over 50 different players have taken over 50 acres and planning to scale vertically and horizontally," he said, adding that the number of companies could range between 220-250 at the park.

One-stop portal

Giving updates on AdvantageKarnataka.com, a state-run portal for investment in business opportunities across diverse sectors in Karnataka, Vidyashankar said that the beta testing phase was on and that the Chief Minister would launch it after the ongoing legislature session.

Also, he iterated that it would be a one-stop portal for all kinds of investment opportunities.

Infy's strategy

Meanwhile, at the event, Infosys Limited's executive co-chairman and chairperson of Karnataka's Vision Group on IT, Kris S. Gopalakrishnan, defended the company's stand that the year was going to be challenging. "We have said that and NASSCOM has reiterated the point. If you look at our recent performances, it's just a snapshot. In 2008, I was asked several times about the sluggish growth of the industry, but by 2010, it had leaped by 20 per cent. So, things will be difficult for the time being, but would not continue to be so for long."