Mahindra Knowledge Park at Mohali

After over 18 months of dithering, the Punjab government has moved to set up the proposed Mahindra Knowledge Park to promote IT culture in the state. The foundation stone for the Rs 350 crore IT facility was laid by Parkash Singh Badal, the Punjab Chief Minister, last week.

The Park, a joint venture (11:89) between the Punjab government entity--Punjab State Electronics Development and Production Corporation Ltd (PSEDPCL) and Mahindra Realty and Infrastructure Developers Ltd (MRIDL), will be set up at Sector 67, Mohali, a modern city near Chandigarh. It will offer nearly 1.5 million square feet office space.

Besides promising direct and indirect employment opportunities to about 75,000 people, the project is aimed to provide facilities including high-speed tele-links to IT professionals and organizations in various sectors such as banking, financial services and insurance.

Talking about the park, Badal said, "Mahindra Knowledge Park is a major milestone in our endeavor to make Punjab the finest IT destination in the north." Added, Anand Mahindra, MD, Mahindra & Mahindra Ltd, "In creating the Mahindra Knowledge Park, we have set ourselves the goal of creating an institution that will embody the best of the 21st century."

During May 1999, the PSEDPCL had signed an MoU with MRIDL for major IT initiatives including software technology park, electronics hardware technology park, and to set up an institute of information technology in the state. However, because of various reasons, all these projects have been hanging fire. Analysts suggest that now, at least, the Punjab government should gear up and act at the speed that is required for implementing IT projects, instead of moving at its customary slow pace.