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Silicon Valley to Invest $ 300 Million in State

A team of investors from US-based Silicon Valley on Thursday assured Chief Minister Naveen Patnaik to invest 300 million dollars in Odisha.

Published: 11th July 2014 09:20 AM  |   Last Updated: 11th July 2014 09:20 AM   |  A+A-

BHUBANESWAR: A team of investors from US-based Silicon Valley on Thursday assured Chief Minister Naveen Patnaik to invest 300 million dollars in Odisha.

The team led by Ajit Monacha expressed interest to invest in Information Technology and Electronic System Design and Manufacturing (ESDM) sector at Info Valley here.

“The investment of 300 million USD in IT and ESDM sector would generate employment for one lakh people,” a release issued by the Chief Minister’s Office here said.

The visiting team appreciated the efforts of the State Government in creating a favourable atmosphere to attract foreign direct investment (FDI) in IT and ESDM sector, it stated.

The State Government has developed an IT investment hub over 215 acres area at Info Valley. The Centre has already given its approval for its development.



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