Sabeer Bhatia, the founder of Hotmail, seems to have too many problems on his desk at the moment. The Haryana State Industrial and Infrastructure Development Corporation (HSIIDC), India, has recommended the scrapping of his Nano City project as it failed to get a kick off in the state.
The Nano City project has been modeled on the Silicon Valley of US which has entailed an investment of Rs.18.5 billion almost. The project was expected to complete in 10 years of time and was anticipating attracting world-class companies involved in creation of Intellectual Property, specifically those into software development, nano sciences, drug discovery, bio-technology, energy research and semiconductor research. It also planned to have an IT dept, University, Airport and Biotech.
The project could not start off as its promoters could not buy land from the farmers at Raipur Rani in Panchkula, primarily because of high land prices. Even after 4 years, there wasn’t any work done by the project’s promoters which pushed the agitated state government to ask them to scale down the project. The authority has now asked them to prepare a fresh revised plan. Initially, the Nano City project was planned as a public-private partnership model, which was to be spread over 11,138 acres of land, covering 23 villages in Panchkula district of Haryana.
Though the aforementioned news has been out in the public, however there hasn’t been any official comment yet from the promoters on the same.