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Our Bureau

Thiruvananthapuram March 13 The Hong Kong-based J. B. Group has expressed interest in developing an information technology (IT) park in Kochi.

Announcing this today, Mr Gautam Kanjilal, CEO, Infiniti Consulting Corporation Ltd, the consulting arm of the J. B. Group, said the company hopes to develop the IT park on a 100-acre plot close to the Infopark, Kochi. "We are very keen on this project," he said.

PROPOSAL SOUGHT

Officials from the J. B. Group met the Chief Minister, Mr V.S. Achuthanandan, today to discuss the project. Describing the meeting as "positive", Mr Kanjilal said that the Chief Minister asked the J. B. Group to submit a proposal on the project.

The Chief Minister also indicated that a 100-acre plot close to the existing Infopark, Kochi, could be considered for this project, he said. The J.B. group will soon present a detailed project proposal to the Kerala Government, he added.

A senior State Government official told Business Line that the J.B. Group has bid for the same plot of land in Kochi identified by the Dubai Internet City for its `Smart City' project.

The State Government will take a final decision on the IT park in Kochi based on the merits of both proposals, he added.

The Indian-owned J.B. Group, which has interests in several sectors, intends to develop the IT park in association with Pune-based project management company ReGenesis.

According to Mr Kanjilal, the J.B. Group's proposed park will attract investments of over Rs 1,500 crore and will create direct and indirect employment for over 1,00,000 people.

The group hopes to obtain the land from the State Government on a 99-year lease, with the option to extend the lease on mutually acceptable terms, he added.

Mr Kanjilal said that the J.B. Group is keen to offer the State Government up to 26 per cent equity in the project. The land identified for the park has been valued at Rs 85 lakh per acre. The company expects to complete the first phase of the project within three years of signing an agreement with the State Government, he added.

The proposed IT park will cover an area of 7 million sq ft, of which 5 million sq ft will be for the IT and ITES sectors. The remaining space will be used for residential accommodation, hotels and other amenities.

More Stories on : Infrastructure | Outlook | Kerala

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