From Our Special Correspondent
Daijiworld Media Network

Bengaluru, Nov 6: The Karnataka Industrial Area Development Board (KIADB) will borrow Rs 1,000 crore from Housing and Urban Development Corporation (HUDCO) for acquisition of lands for Information Technology Investment Region (ITIR) project.

The previous UPA government had sanctioned the ITIR project to the State.
The ITIR would come up near Kempe Gowda International Airport. The first phase of the project would be completed by 2020.

Speaking to presspersons after attending a state high-level clearance committee (SHLCC) here on Thursday, IT/BT minister S R Patil said HUDCO has decided to lend Rs 1000 crore to the KIADB for acquisition of lands for the project in a time-bound manner.

Chief Minister Siddaramaiah, who headed the State High Level Clearance Committee (SHLCC), said the State Government has appealed to Prime Minister Narendra Modi to withdraw the concessions provided to Andhra Pradesh by the Centre after the bifurcation of the erstwhile state.

The Centre’s concessions to Andhra Pradesh for investment in the information technology (IT) and other sectors would cause an ‘unhealthy competition’ between the two States and this has been informed to Modi, the chief minister said.

"I further appeal to Prime Minister Narendra Modi to withdraw whatever concessions he has given to Andhra Pradesh,” he said.

The Chief Minister said the State was way ahead of Andhra Pradesh in industrial development.