International BusinessMP govt invites bids for IT park again
After making three futile attempts to sell the controversial Crystal IT park, the only IT-specific SEZ in Madhya Pradesh, the state government has again invited tenders for a co-developer.
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The last co-developer, according to a senior official, “failed” to deposit the requisite amount within the stipulated time.
The state government is trying to find out a partner since 2003. Mumbai-based Zoom Developers had last year qualified for the bid as co-developer for Rs 104 crore.
Crystal IT park is a huge infrastructure created in Indore to initiate software development and related information technology activities by Audyogik Kendra Vikas Nigam (AKVN), a state industry department arm. Controversies have plagued the building before it could come out of drawing board. “Zoom Developers was asked to deposit 25 per cent of the amount to start work and they were given two chances till March 12 March,” a senior official said.
“Three years back, AKVN had roped in Tata Consultancy Service (TCS), Wipro, SKIL, and Infosys as consultants but there were no takers as the design of the building was faulty, a government official told Business Standard.
Sprawling on an area of 7.99 hectares, the Crystal IT park building has been developed on an area of 550,000 sq ft and has 51,181 sq mt built-up area. But it is lying unattended for the last many years.
Constructed with an investment of Rs 55.26 crore, the building is located at prime business locality of Bhanwarkuan near Indore University.
Zoom Developers will have to develop another 550,000 sq ft and it will be allowed to construct and market another 11,000 sq ft.
If industry sources are to be believed, the original design of the building has been changed. Only the cost of the land is more than Rs 100 crore against the state government assessment of Rs 104 crore for the entire structure and land.
The IT park is a notified area on 7,900 sq mt with permission for companies to purchase duty-free material under SEZ Act 2005.