Infrastructure major HCC's realty arm, Lavasa Corporation, that has floated a firm, MyCity Technology, in partnership with IT major Wipro, today tied-up with networking leader Cisco to provide Information and Communication Technology services in the newly-created Lavasa city.
MyCity Technology, a joint venture company between Lavasa, Wipro and Cisco, will invest around Rs 450-crore (Rs 4.5 billion) to provide e-governance, ICT infrastructure and other value-added services in Lavasa city, the first of its kind venture in the world.
"MyCity is an endeavour towards making Lavasa a planned and well-managed city. With partners like Cisco and Wipro, we intend to make it green and sustainable through effective use of modern technology," Lavasa's Chairman Ajit Gulabchand said.
Gulabchand, however, refused to divulge any details on the stake each of the company holds in MyCity.
MyCity will be investing close to Rs 450-crore, that will be utilised over the next 10-years to provide ICT and architecture solutions such as water and fuel management, security, better transport and communication and also to make the city energy efficient.