Bangalore-based Sobha Developers Ltd has announced plans to set up a Rs 5,000-crore hi-tech city in Kochi. The company signed a memorandum of understanding with the State government in this regard on Monday.
The project which would net the single largest investment for the State is set to come up at Maradu in an area of around 400 acres. It will include a seven million sq ft knowledge park, retail shopping malls and avenues, hotels, resorts and other leisure facilities.  Apart from these, residential complexes and related infrastructure including a marina are also slated to come up.
The city will be of world class standards and focus on research and development, knowledge dissemination, electronics and IT, according to SDL Regional Director (Kerala) P Ramakrishnan. The project which will be developed in about 8 years. will re-inforced public-private partnership initiated by the government.
The MoU was signed between J C Sharma, Managing Director, SDL, and T Balakrishnan, Principal Secretary (Industries department), in the presence of Minister for Industries E Kareem and Sobha Group Chairman P N C Menon.
SDL expects to create 75,000 direct jobs through the  project.