Integrated smart metering solution company Iskrameco will invest nearly Rs 1,000 crore to establish an integrated hardware and software facility for smart metering solutions at New Town's Silicon Valley hub in West Bengal. This would be the state's first major investment in hardware.

The company has acquired five acres of land for constructing an 11-storey building with 85,000 sq. ft. on each floor. The first two floors would be dedicated to hardware, from component to meter, while the remaining would be for allied software servicesincluding smart metering solutions. The project would be completed in the next three years.

This facility will initially produce smart meters for power, and then for gas and water as well. Iskrameco currently has smart meter manufacturing units in Hyderabad and Mysore. For its order received for 2.5 lakh smart meters from WBSEDCL, these will be installed in Kolkata, North 24 Parganas, South 24 Parganas, Asansol and Burdwan.