Technocity launch on June 4

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Tvm: Technocity, billed as Kerala IT’s biggest IT project, will be launched by the Chief Minister Shri V S Achuthanandan at Thiruvananthapuram on June 4, 2010. The project, on completion, would provide 100,000 IT / ITeS jobs directly and generate about 400,000 indirect jobs.

Technocity, will be developed in 450 acres of land in Pallippuram, 5 kms north of the Technopark main campus on the NH 47 towards Kollam, as an integrated township, encompassing IT / ITeS infrastructure, residential apartments, shopping malls, hospitals, hotels, educational institutions, and other support facilities. The land acquisition for the same was completed earlier this year at a cost of Rs.340 crores funded by a consortium of banks headed by Central Bank.

In a release, Dr. Ajay Kumar IAS, Principal Secretary – IT said, “Technocity, Kerala IT’s dream project is planned as a self dependent satellite city that would not strain the resources and infrastructure of Trivandrum city.  The entire project will be developed through multiple Special Purpose Vehicles (SPVs) in association with leading developers. In addition to IT, other focus areas will be biotechnology, nanotechnology, high-end manufacturing and R&D. Technocity will create around 10-15 million sq. ft. of IT business space.”

Technopark has applied for funding to the Japan International Cooperation Agency through Department of Economic Affairs, GoI for Rs.170 crores towards the infrastructure development of Technocity. Kerala State IT Infrastructure Ltd. (KSITIL) is the developer of the project. The Master Plan has been completed for Technocity envisaging the most suitable way to develop the IT city at the maximum possible speed to break down the entire area into smaller land parcels and develop through Public Private Participation (PPP) model.

Mervin Alexander, CEO Technopark 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.6000 crores is expected in the mega-project which will be developed on PPP basis.”

“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. Kerala Water Authority is preparing a Detailed Project Report for an exclusive water supply system for Technocity. We have already taken up with PWD for improvement and maintenance of approach road to Technocity”, he added.

Kerala IT News

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