Housing some well known IT firms, such as, Infosys, Wipro, Oracle, IBM and others, Hinjewadi is in for a US $200-million investment in the form of a township to be developed jointly by MIDC and Voreando over the next five years.

Already, a special purpose vehicle has been floated to execute the Vorandeo-Hinjewadi Township Pvt Ltd. project, and the shareholders agreement signed by Rajiv Jalota, CEO, MIDC, Maharashtra, India and Michael Fascitelli, President, Vornado Realty Trust, USA at New York.