Government approves transfer of land for twin computer towers to J&K

Srinagar, March 16: In a significant development, the government of Jammu and Kashmir on Wednesday authorized the transfer of land for the construction of computer towers in the two divisions of the union territory.

In an order issued by the J&K government, 24 Kanals of land in Jammu and 30 Kanals of land in Kashmir identified for the construction of computer towers have been transferred to the Directorates of Industries and Commerce of Jammu and Kashmir.

“24 Field Channels Identified for Construction of Computer Tower at Jammu Exhibition Centre, from JKIT-IDC to Directorate of Industries and Commerce, Jammu; 30 land channels identified for the construction of the Computer Tower at Sempora Pampore, from JKIT-IDC to Directorate of Industries and Commerce, Kashmir,” the order reads.

Sources within the administration said the twin IT towers in Jammu and Kashmir are reserved only for foreign investors for whom a policy has already been unveiled.

“These will be IT and general-purpose towers, which will also include ITE services, but both towers are for IDE investments only for which the minimum investment must be 100 crores, but they can also take a local partner but not more than 49%,” sources said.

According to the order, the transferred land will be strictly used for the establishment of a “multi-purpose complex” to house different business activities, including its related activities, which will be part of the “industrial complex for foreign investors”, in accordance with the decision of the Board of Directors and reference.

Pertinent to mention that the J&K administration last year in October signed a Memorandum of Understanding (MoU) with Dubai, for property development, industrial parks, IT towers, multi-purpose towers.

In a press release, Trade and Industry Minister Piyush Goyal said J&K was on the “development bandwagon” and the MoU would attract foreign investment from around the world. Different entities in Dubai have shown strong interest in the investment, he added.