Trivandrum: Kerala’s largest IT park hit a major milestone today as Technopark entered a third phase of its infrastructure development when it signed an agreement with US-based Taurus Investment Holders on the ‘Downtown’ project.
Being undertaken with Rs. 1,200 crores of foreign investment, the ambitious plan to be carried out in a space of 20 acres was formally inked by Boston-headquartered Taurus Investment Holdings President, Erik Rijinbout, its India Country Managing Director, Ajay Prasad and Technopark CEO, Girish Babu in the presence of Chief Minister, Shri Oommen Chandy. Minister for IT & Industries, Shri P K Kunhalikutty and Planning Board Member, G Vijayaraghavan were among those present at the function at the CM’s conference hall in the Government Secretariat in Thiruvananthapuram.
The CM said today was ‘momentous’ in the history of the Kerala IT sector. “This project was first discussed at the Emerging Kerala conference in September 2012. Those who asked what came out of Emerging Kerala are now criticising this project.” Declaring the full support from the government for the project, he added “We should move with the times; the government has a clear vision to do so.”
IT Minister suggested that any issues that may arise in the project could be overcome. “This project is a feather in the cap for Kerala’s current developmental streak.”
Downtown Technopark, to be located between Technopark Phase I and II, is a mega project that will cater to the nearly 50,000 employees at this IT hub. The development, which will be completed over two stages, will provide employment to 20,000 people. In the first stage, two buildings with 18 lakh sq ft built-up space will be constructed in 10 acres in Technopark’s Special Economic Zone (SEZ).
The framework also includes the development of another adjacent 9.73 acres in the no-SEZ commercial land for utilities like retail malls, hotels, convention centres and multiplexes.
“The construction on the first building for IT services, the retail mall and the hotel will start in January next year,” said Ajay. “It is scheduled to be completed by March 2018. The work on the second hotel and IT building will be completed in January and June 2020 respectively.”
Kerala Biz News