Bhubaneswar, July 10: Investors from Silicon Valley have evinced interest to invest $300 million in the Infovalley project being set up by the state government here.

At a meeting between chief minister Naveen Patnaik and a delegation of the investors from Silicon Valley it was decided the investment would be made in the electronic system design and manufacturing park at Infovalley, which would create job opportunities for about one lakh people.

Infovalley, an IT investment region in information technology and the electronic system design and manufacturing sector, has been developed in the city on 215 acres. The Centre has also accorded approval to the Greenfield Electronic Manufacturing Cluster. IT majors such as Infosys, TCS, Wipro and Tech Mahindra are already operating through their development centres at Infovalley.

The US business delegation, led by Ajit Manocha, told the chief minister that Odisha was the first state in India to sign a Memorandum of Agreement to tie-up with Silicon Valley to attract innovative technology-based industries in the state.

Manocha, a member of US President Barrack Obama’s advisory committee on advanced manufacturing, meet Naveen along with NeoMagic Corp founder Prakash Agrawal and Sanjeev Shriya, who has spearheaded biometric movement in India.