InfoBeans has recently informed exchanges that the company secured a contract for the development of a Green IT Park Building at IT Park, Indore (M.P.) under the Design, Build, Finance, Operate, and Transfer (DBFOT) model.
The project is being executed through a Public Private Partnership (PPP) arrangement, awarded by the M.P. State Electronics Development Corporation Ltd. To carry out this project, a consortium will be formed that includes a developer and an investor, with InfoBeans holding a 51% stake. This majority stake aligns with InfoBeans’ intended occupancy of approximately half of the planned 4 lakh square feet green-certified structure.
The scope of the contract involves the construction of the IT building and associated services. The agreement is domestic in nature and covers a land area of three acres located in the Pardesipura IT Park. The total duration of the project is set at 50 years on a lease basis, which includes a 36-month construction timeline. The financial plan for the project includes a capital infusion of INR 30 crore by InfoBeans, while the remaining funding will be secured through debt.
