Project will generate one lakh jobs
Facility will come up at Pallippuram
Land acquisition for the project over
THIRUVANANTHAPURAM: Technocity, Kerala's biggest IT/ITES project, will be launched by Chief Minister V.S. Achuthanandan on June 4. The 450-acre facility will come up at Pallippuram, near here, Chief Executive Officer (CEO) of the Technopark Mervin Alexander has said.
He was addressing a press conference here on Saturday along with Infopark CEO Siddhartha Bhattacharya and Cyberpark CEO Binu Pazhoor. On completion, the latest IT Park would generate one lakh direct and four lakh indirect employment opportunities.
Technocity will be developed as an integrated township encompassing IT/ITES infrastructure, residential apartments, shopping malls, hospitals, hotels, educational institutions and other support facilities.
Acquisition of land for the project was completed earlier this year at a cost of Rs.340 crore. This was funded by a consortium of banks lead by the Central Bank of India, he said.
“Technocity is designed to address the socio-economic commitment like rural development, employment creation, earning of foreign exchange, increasing tax collection, etc. with an assured financial feasibility. An investment of over Rs.6,000 crore is expected in the mega-project which will be developed on public private partnership (PPP) basis,” Mr. Alexander said.
‘‘Considering the vast area, the project will be developed in a phased manner over a period of seven years of which the first major phase will be completed in a period of three years, to enable the parks to commence functioning by July 2012. The Kerala Water Authority (KWA) is preparing a detailed project report for an exclusive water supply system for Technocity. We have already taken up with the Public Works Department (PWD) for improvement and maintenance of approach roads to Technocity,” he said.
A press note issued here said Technopark had applied for funding—Rs.170 crore—to the Japan International Cooperation Agency (JICA) for development of infrastructure at Technocity. Kerala State IT Infrastructure Ltd. (KSITIL) is the developer of the project.
The master plan for Technocity has identified the most suitable way—to break down the entire area into smaller land parcels and develop through PPP basis—to develop the IT city at the maximum possible speed.