The Madhya Pradesh government has prepared a plan to develop a startup-cum-IT park in Indore with an estimated cost of Rs 1500 crore on a public-private partnership model to help new enterprises flourish, an official said.

He said the government will provide land to a private company in the city, the state’s financial capital, to construct a 22-storey building of the proposed business hub.

“The board of directors of Indore Development Authority has passed a resolution to build a startup-cum-IT park on the Super Corridor on PPP model. The plan will be sent to the state government for final approval,” Indore Division Commissioner (Revenue) Deepak Singh told reporters.

Singh said the construction of the startup-cum-IT park equipped with state-of-the-art facilities is estimated to cost Rs 1,500 crore.

He said that the blueprint of the project would be presented to investors during the ‘Invest Madhya Pradesh’ summit scheduled to be held in Bhopal on February 24 and 25.