Bhopal, Dec 21 (IANS): Madhya Pradesh Chief Minister Mohan Yadav will lay the foundation stone for an IT Park in his home district Ujjain on Saturday.

Chief Minister Yadav will perform the 'bhoomi-puja' for the project worth Rs 46 crore (estimated cost for the initial phase) during an event at Ujjain Engineering College on Indore Road.

The state government has allocated 2.16 hectares of Government Ujjain Engineering College premises in Goylakhurd village for setting up an IT Park in the city of Mahakal.

Officials associated with the project said a number of companies have evinced interest in setting up software units, AI, call centres, business processing outsourcing etc in the park.

The entire project will be completed in five phases, with its architectural design inspired by the concept of Mahakal's Anant, according to officials. The infrastructural work for the park would be completed within three years.

The state government said that Ujjain's first IT Park, which is being developed by Madhya Pradesh Industrial Development Corporation Limited (MPIDC), is expected to generate significant employment opportunities for the local youth.

The officials further asserted that the saturation of IT cities like Bengaluru, Hyderabad and Pune offers great opportunities for Ujjain's perfect ecosystem.

"IIT-Indore's off-campus too is proposed in the engineering college premises. IT Park in Mahakal City would add to the diversification of economic activities and check brain drain," said an official.

A similar IT Park is also proposed at Government Engineering College Rewa, however, the schedule for the formal announcement of construction work, is yet to be announced.

The state government had stated that these upcoming IT parks in Ujjain and Rewa are expected to strengthen Madhya Pradesh's position as a key player in the IT sector and attract significant investments while boosting regional development.