The Bihar State Housing Board on Friday signed a memorandum of understand (MoU) with the Infrastructure Leasing and Financing Services (ILFS) to develop an ultra-modern township, a shopping mall, a multiplex, and an amusement park in Kankarbagh area, officials said.
The agreement, signed by the ILFS Managing Director D. K. Mittal and Housing Board secretary K. K. Choubey, would allow developments based on Public Private Partnership (PPP) on 10 acres of land in Patna and 17 acres of land in Gaya owned by the Housing Board, they said.
Bihar Urban Development Minister Ashwini Kumar Choubey, at a press conference in Patna on Friday, said a shopping mall on a 1.1 acre land near the TV tower would be built while near the Doctors' Colony, an amusement park would be constructed on a 7-acre spread of land.
To further give Patna the shape of a true metropolitan city, a multiplex would be built on a 1.64 acre land near Bahadurpur in Kankarbagh, Choubey said.
Furthermore, a new modern township would be developed near Anugrah Nagar in Gaya, the Minister said adding all these projects are expected to be completed before December 2010.