Technopark, Taurus inked pact on Phase 3 development

India’s largest information technology park has achieved a major milestone recently 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 crore 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 Mr Erik Rijinbout, its India Country Managing Director Shri Ajay Prasad and Technopark CEO Shri Girish Babu in the presence of Mr. Oommen Chandy, Chief Minister.

Minister for IT and Industries Mr. P K Kunhalikutty and former Technopark CEO Mr. G Vijayaraghavan were present at the function at the CM's conference hall in the Government Secretariat. IT and Industries Principal Secretary Mr. P H Kurian IAS gave the welcome address.

The Chief Minister said this occasion was “momentous” in the history of the Kerala IT sector. “This project was first discussed at the Emerging Kerala conference in September 2012,” he noted. “Those who asked what came out of Emerging Kerala are now criticizing this project.”

The Chief Minister declared “full support” from the government for the project. “We should move with the times; the government has a clear vision to do so,” he said.

Mr. Kunhalikutty 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’, which is located between Technopark Phase 1 and the US Technologies Global campus, 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 centers and multiplexes.

“The construction on the first building for IT services, the retail mall and the hotel will start in January next year,” said Shri Ajay Prasad. “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.”

Launched in 1990, Technopark is home to over 300 companies, employing 40,000 professionals.