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Pranab lays foundation for financial city near Bangalore

Karnataka,Business/Economy, Sun, 08 Apr 2012 IANS

Bangalore, April 8 (IANS) Finance Minister Prarnab Mukherjee Sunday laid the foundation stone for the country's first financial city, being built by the state-run IFCI Infrastructure Development Ltd (IIDL) at the Hardware Park near the international airport at Bagalur, about 30 km from Bangalore.


"We are developing India's first financial city as a premium urban infrastructure in association with leading banks and institutions on 50 acres of land, provided by the Karnataka government," IFCI chief executive and IIDL chairman Atul Kumar Rai said on the occasion.


The ambitious project is scheduled to be completed in three years.


The layout of the financial city is based on Zen geomancy concept with effective circulation and activity patterns.


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