New Delhi, Nov. 30
THE Delhi-based Ansal Properties & Infrastructure Ltd (APIL) has signed a memorandum of understanding with the Uttar Pradesh Government to develop a hi-tech city in Lucknow.
"The township is expected to be completed in five to six years. The hi-tech city will have 24-hour power back-up, optical fibre and satellite communication facilities," a company release said here.
Of the total land area in the hi-tech city, 40 per cent will be earmarked for residential purposes, 20 per cent each for green belt and roads, eight per cent for commercial buildings such as malls and other shopping complexes and the remaining for the development of infotech and bio-tech parks, transport, communication and recreational facilities.
"The project would entail an investment of Rs 2,600 crore and would create assets worth over Rs 4,400 crore, generating more than 1 lakh jobs in the area," it added.