Financial Daily from THE HINDU group of publications
Friday, Jul 04, 2003
Financial Daily from THE HINDU group of publications Friday, Jul 04, 2003 |
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Info-Tech
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Alliances & Joint Ventures ITPL to expand infrastructure Vishwanath Kulkarni
BANGALORE, July 3 INFORMATION Technology Park Ltd (ITPL), the joint venture between the Tata Group, Singapore-based consortium Ascendas and Karnataka Government is planning to expand its infrastructure by adding one more block this year even as it plans to offer build-to-suit (BTS) facility for IT companies planning to set up their own campuses in its premises. ITPL has a built up space of 1.6 million sq ft, which it plans to increase to six million sq feet over six to seven years. As part of its immediate expansion plans, ITPL plans to add 3 lakh sq feet in a year's time by setting up a new block, said Mr Chan Kah Hoe, CEO, ITPL. "We expect to fund this new expansion plan through part debt and part equity," he said. By offering the build to suit facility, ITPL wants to retain its customers who want to expand their operations and have their own facility in its premises. Under BTS, ITPL offers land to clients on long-term lease to set up their own campuses that would be designed to meet their requirements. Among other advantages, a company can have its own naming rights and exclusive identity despite being present in the ITPL premises, while ITPL would provide the infrastructure and maintenance operations. ITPL has earmarked about 10-11 acres, of its total area of 68 acres in its premises for the BTS facility wherein about 4-5 companies can set up their campuses, he said. ITPL, built on a plug and play concept drive, aims to be the most preferred tech park in the country through its services and superior infrastructure. It offers a one-stop shop integrating office, production, commercial, retail, residential and recreational facilities in a single location.
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