The Rajiv Gandhi IT habitat in Goa, which was abandoned almost four years ago following violent protests, is all set to make a comeback with the state government announcing financial incentives for companies who complete their work in the next five years.

The state Cabinet recently approved phase-wise waiver of penal interest for the IT firms which had purchased the plots in the information technology park near here and are yet to commence their activities due to several bottlenecks.

The government data revealed that out of total 22 plots here, 20 were given to 17 allottees collecting premium, lease rent and licence fees to the tune of Rs 89.66 crores approximately.

The plan worked out by the state government makes it mandatory for the companies to complete their buildings within a period of five years.

The ambitious project was formally inaugurated by Congress president Sonia Gandhi in 2006 but work on it was stopped in December 2007 due to violent protests that had damaged the project infrastructure.

The state government-promoted Information Technology Goa (ITG), which is handling this project, had recommended to the government that financial incentives should be provided in order to restart the project.

The Cabinet has approved that the ITG should waive off penal interest to the tune of Rs 6.89 crores for these companies.

ITG officials said that after the protests the companies had virtually stalled their plans and their dues have piled up to Rs 106 crores which they owe to the state government.

The Goa government has worked a 'non-discretionary' and 'non-discriminatory' special incentive scheme for the plot allottees. The companies will have their total cent per cent of the interest on dues waived, of which 25 per cent will come on approval of building plans and completion of formalities by October 31.