Curation Team
INDORE: The Madhya Pradesh Industrial Development Corporation (MPIDC) is gearing up to invite bids from technology firms in Oct for space allocation in highly anticipated IT Park 4.
The industries department is also hopeful of attracting investment from electronics system design and manufacturing (ESDM) companies, data centres, testing laboratories and IT offices.
MPIDC executive director Himanshu Prajapati said, “Approximately 70,000 square feet of office space will be available for bid with leases expected to span 30 years. This park aims to bolster the technological landscape in the region and attract investment from various sectors.”
Officials said the final formalities for calling bids from companies are complete and bidding process is expected to begin in Oct.
The civil construction of IT Park 4, located in Electronic Complex, and covering an area of 0.38 hectare, is near completion and is being developed at an estimated cost of Rs 47 crore.
The industries department is optimistic about attracting tech companies from Madhya Pradesh, Bangalore, Maharashtra, and other major cities, as several firms have already enquired about space in the new park.
In addition to IT Park 4, MPIDC plans to allocate spaces in the under-construction IT Park 3, which is being established on 2.38 hectare at an estimated cost of Rs 501 crore. The allocation for IT Park 3 is anticipated to occur in a phased manner in 2026.
As the region prepares for this significant development, it stands to benefit from the inflow of technological investments, transforming Indore into a hub for innovation and business growth.
