Kerala to sign pact for Rs. 1,200-cr project at Technopark.

Kerala will sign a major development project at Technopark here in which US-based Taurus Investment Holdings is investing Rs. 1,200 crore.

The IT park will sign a framework agreement with the US investor later this morning for the proposed 'Downtown Technopark' project.

Erik Rijnbout, president, Taurus Investment Holdings; Ajay Prasad, country managing director, Taurus India, and KG Girish Babu, CEO, Technopark, will be signatories.

Chief Minister Oommen Chandy, Industries and IT Minister PK Kunhalikutty, and PH Kurian, principal secretary, industries and IT, will be present.

The project proposes construction of two IT towers with a total built-up area of 1.8 million sq on a 10- acre SEZ plot in the Technopark-phase 3 campus.

It will also envisages development of 9.73 acres in the non-SEZ space for offices, a retail mall, hotels, convention facilities, multiplexes and other utilities to support the existing and future activities.

Discussions are also under way to launch a world-class innovation hub, supported by global institutes and corporate partners, within Downtown Technopark.

The first phase envisages setting up a built-up area of approximately 1.5 million sq ft. Another million sq ft will be developed in the second phase.

An estimated 1.2 million sq ft will be developed for retail, social infrastructure and hospitality space in the first phase and a hotel of 1.2 lakh sq ft in the second.

The first phase construction will be completed by mid-2018 and the second phase by 2020.

It will add at least 20,000 direct employment opportunities, besides contributing to the overall development of the region, says Girish Babu, CEO, Technopark.


HBL