Eye on boosting infrastructure, Noida Authority nod for AI city-business park

The Noida Authority has approved a plan to build an AI city and business park in Noida, following the state cabinet's approval on Monday. The project, which will be developed through private sector participation, aims to attract multinational corporations, IT firms, and innovation-driven enterprises. At least half of the built-up area will be reserved for IT and knowledge-based services.

The initiative will provide a ready-to-operate, integrated business infrastructure, incorporating facilities for AI, Global Capability Centres, IT services, research, start-ups, and skill development. The project will follow a Design, Build, Finance, Operate and Transfer (DBFOT) model. The land ownership will remain with the Noida Authority, and the concession period will be 45 years, extendable by another 45 years.

The contractor will be selected through competitive e-bidding. Sector 147 will house a Global Capability Center hub and Grade-A office space, while an integrated automobile complex will be developed in Sector 105. The City Logistics Plan, which aims to improve logistics efficiency and reduce congestion, has also been approved.