The Hindu : Front Page : 1-lakh cr. Science City for Anantapur

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Friday, Jan 26, 2007
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1-lakh cr. Science City for Anantapur

Special Correspondent

Consortium of four foreign companies to establish the facility in 10 years Consortium of four foreign companies to establish the facility in 10 years

HYDERABAD: A massive, state-of-the-art integrated ` Odyssey Science City' is proposed to be established in drought-prone Anantapur district with an investment of $ 25 billion (Rs. 1.1 lakh crores) over the next 10 years by a consortium of four Australia and Singapore-based companies.

The proposal for setting up the mega venture was signed by Additional Secretary (Industries) K. R. K. Reddy on behalf of the State Government and Bob Sharpless, Managing Director, Springfield Land Corporation, Australia, in the presence Chief Minister Y. S. Rajasekhara Reddy here on Thursday. It would be coming up between Odicheruvu and Ammadiguda in Anantapur, a few hours' drive from Bangalore.

YSR promises support

Dr. Rajasekhara Reddy said: " We are excited about the announcement of Odyssey Science City in an area that has been traditionally drought-prone and backward." He assured full Government support for the project.

The consortium consists of Springfield Land Corporation, Macquarie Bank, Australia and Juron International Group, and Semb Corp Industries, both from Singapore.

Speaking at the signing ceremony, Mr. Sharpless said the project envisaged a self-contained, hi-tech complex with its own comprehensive infrastructure, including power, expressways, telecom networks, desalination plants, biotech parks, SEZs, IT/Biotech parks, industrial parks, hospitals, educational institutions, hotels and amusement parks.

He said Science City would provide direct employment to 15 lakh people and indirect employment to another 10 lakhs. It would be financed entirely by the consortium and the Government's support would be required in areas like provision of land and water on commercial terms. "In recent memory, this represents the single largest investment in a Greenfield project," he added.

National centre

It would be developed into a national centre for technology and innovations, hi-tech manufacturing industries, software development, IT, biotechnology, bio-pharmaceuticals, R &D, telecommunications, supercomputing, artificial intelligence, education, finance and banking, tourism and entertainment, fine arts, medical and healthcare services.

He said the rehabilitation package for the affected residents would follow the guidelines stipulated by the Government. In addition to the prescribed package, the consortium would provide modern housing, vocational training to the displaced, no restrictions on number of persons to be employed per family, land to be procured at prevailing market rates, free education and health care to the affected residents and landlords would be made stakeholders in the project.

Rao Munukutla, CEO Juron Infrastructure ( India) Pvt.Ltd, said the exact extent of land had not yet been finalised.

David Belham, Trade Commissioner, Queensland Government, Australia, said the proposed city would provide a platform for many Australian universities.

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