Knowledge cities to be born in Portugal by the hand of an Indian millionaire

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March 2, 2020January 13, 2021
Knowledge cities to be born in Portugal by the hand of an Indian millionaire

Sam Pitroda signed a cooperation protocol with the Setúbal municipality for the first project. And there are two more in view.

Portugal remains on the radar of great international fortunes. Now, it was Indian millionaire Sam Pitroda, who leads the Pitroda Group, who decided to attract investment to the country, where he plans to build three Knowledge Cities. To this end, the physicist – who made his fortune in the USA in the telecommunications sector and worked for the Indian government in developing a technological plan – recently took the first formal steps to make this project viable, with the signing of a protocol with the local authority of Setúbal. And he has plans to move forward in Lisbon and Porto.

A Knowledge City is “an integrated complex” where “knowledge workers” live and work, as Sam Pitroda explained to Business, stressing that “it is a city where talent comes together”. The three Knowledge Cities will have different clusters that will respect the business, social and environmental reality. “This is an inclusive project. We are not going to create ghettos ”, guarantees the businessman, who is appointed as the mentor of the technological revolution in India in the 1980s.

How will the sadino project be?

In Setúbal this city will be born in Vale da Rosa, very close to the facilities of BlueBiz Global Parques and the campus of the Polytechnic Institute of Setúbal. The project should include offices, a residential area, a hotel, a conference center, a hospital, schools and universities, commerce, parking lots and entertainment, art and culture spaces.

The strategic plan for Setúbal will, according to the same source, be made by a Portuguese company specialized in these long-term projects used to working for municipalities and the Government. It will also count on the contribution of a local committee of scholars made up of relevant people from the most varied areas.

In addition to the sadina city, the group has ongoing negotiations with an autarchy in the north of the country “which we do not yet want to identify because it is in a very embryonic state”, said the official in a conversation with the daily in Lisbon, clarifying that “the plan is to mobilize global resources. I will not invest 800 million euros [the estimated global cost of building a Knowledge City]. My job is, with the help of several people who, like me, have the right contacts, to attract investment. And there are already interested parties ”.
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