Kerala to set up biggest IT project

The project will encompass not only IT/ ITES infrastructure, but will also have residential apartments, shopping malls, hospitals, hotels, educational institutions and other facilities. It will be developed in a phased manner over a period of seven years of which the first major phase will be completed in three years.

Technopark CEO Mervin Alexander said that the focus areas at Technocity would be biotechnology, nanotechnology, high-end manufacturing and R & D. The project would provide one lakh IT/ ITES jobs directly.

According to him, the project would be developed through multiple special purpose vehicles in association with leading developers. Land acquisition for the project has already been completed. Principal Secretary- IT Ajay Kumar said that the project would create around 10 to 15 million square ft of IT business space. The Japan International Cooperation Agency has been approached for a Rs 170-crore funding for the infrastructure development of Technocity.

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