Official sources told Deccan Herald on Wednesday, that the State government would soon invite Expressions of Interest (EoI) from prospective developers and co-developers who want to set up shop at the 25 acre Shimoga SEZ.

For the proposed Rs 25.80 crore project a budget provision of Rs 10 crore has been provided as equity support to State-owned Karnataka Electronics Corporation Limited (Keonics), — which will take up the monitoring, execution and development of the SEZ. It will also be engaged in development of infrastructure facilities such as roads, connectivity, and other essentials, they said.

Required approvals
“Two to three developers have already evinced interest in taking up space in the SEZ to develop and set up operations after receipt of necessary approvals from the regulatory authorities,” they added. Prospective developers can either themselves occupy the space developed by them or also rent/lease out the space to those companies interested to put their facility and can also co-opt other developers to help them in setting up the project.

The SEZ will see a 100 per cent processing area with specified common infrastructure exclusive for the occupants of SEZ and upon completion envisaged to generate employment to over 2,000 professionals besides large chunk of indirect employment. It is also expected to generate export revenues of Rs 250 crore over a five-year period.
Further, sources said, it is also proposed to develop a non-SEZ area on a five acre plot adjacent to SEZ for proposed multi-storeyed IT park under public-private partnership which will house non-export oriented units.

The initial capital investment into the project, to be located near Machenahalli Village on Shimoga-Bhadravathi highway, is around Rs 8 crore they said which will boast of facilities like coffee shops/food courts, guest suites, business centres, besides other key infrastructures.