The Centre is considering Karnataka's proposal to set up a zone that will house IT, hardware and manufacturing companies.
The Information Technology Investment Region (ITIR) project is aimed at developing the IT, ITeS and electronic hardware manufacturing sectors that are looking to expand.
44 firms interested
The project is to be completed in two phases over a period of 10-12 years. The estimated investment for the ITIR is Rs 90,000 crore.
Of these, the Karnataka Government has sought the Centre's support of Rs 5,790 crore.
According to the document sent to the Centre, Karnataka's Department of IT, Biotechnology (BT) and Science and Technology (S&T) a survey in 2010 revealed that 44 companies are interested in setting up units in the proposed region.
Similar proposals from Andhra Pradesh and Tamil Nadu were also made to the Centre though Karnataka is likely to get the nod. The Karnataka Government had earlier submitted a detailed concept note to the Centre for this project.
According to the plan, the State wants to set up the ITIR in an area of 42.51 sq km near the Bangalore International Airport. The Karnataka Industrial Areas Development Board (KIADB) has also announced that it will acquire 2,072 acres for the first phase of this project.
Road & rail connectivity
The envisaged Rs 90,000-crore investment would include road and rail connectivity in two phases. The proposed project would generate about 1.1 million direct and 2.7 million indirect jobs.
Further, the State Government has proposed to lay 60-km water pipeline to supply recycled water. For power requirements, six substations and 65-km transmission lines are proposed to be set up at a cost of Rs 281 crore.