Sheikh Dr. Hamad Bin Naseer, a member of the royal family of Qatar, is looking to invest in India’s Smart Cities project. He is supposed to make the investment along with Mitesh Sharma, his partner from India. Sharma incidentally is an entrepreneur himself. It is being speculated that he will be putting in INR 100,000 crore into the project that is clearly one of the major dreams of the present Government. However, the sum is not going to be provided at one go – it will be done over a number of years. The Prince is supposedly interested in investing in 10 smart cities that are to be built across the country in the next 20 years.
The partners of the Sheikh are looking to invest in areas such as power, healthcare, solar energy, education and development of infrastructure. It is expected that this investment will start coming in three months. This will most probably happen by March 2015. If everything goes well then the Prince could very well consider investing more into the project. Mitesh Sharma is currently responsible for taking care of all the investment being done in this regard.
Essel Group’s tie-up with Madhya Pradesh
After expressing its willingness to invest in the Smart Cities programmes that are supposed to be executed in Bengal, the Subhash Chandra-led Essel Group has stated that it would like to take part in the programme’s Uttar Pradesh chapter as well. It is also being stated in this regard that even before Narendra Modi had thought of this concept, it had been envisioned by the Essel Group supremo. The organization in October last signed a memorandum of understanding with the State Government of Madhya Pradesh.
As part of that agreement it was decided that the Essel Group would help in the development of five smart cities in the central Indian State. The group said it would invest in the region of INR 7,500 crore. Regarding its agreement with MP, the Essel Group is optimistic that it would receive an affirmative reply in about eight months to come. As of now the Uttar Pradesh and West Bengal Governments are evaluating the proposals that have been made for smart cities by Essel Infraprojects and getting ready for the next level of talks.
CISCO joins with IL&FS to participate in Smart Cities project
CISCO, one of the leading names in the world of networking, has paired up with IL&FS Technologies in order to come up with digital solutions that could be used in the Smart Cities project. This association is a proof of how excited the various business organizations are at the prospect of being able to take part in the project whose worth has already run up to several billion dollars. Cisco which is presently valued at 48.6 billion dollars will create solutions based on a technology named Internet of Everything-based (IoE). It is also hopeful that this set of products will help it achieve further breakthrough in the infrastructure sector of India.
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