The Hindu Business Line : Sobha Developers to sign MoU for hi-tech city in Kochi

Kochi, Aug 18 The Bangalore-based Sobha Developers Ltd is setting up a Rs 5,000-crore hi-tech city project in Kochi to create an integrated city of world class standards with a focus on R&D, knowledge dissemination, electronics, IT and pure and applied sciences.

A memorandum of understanding in this regard will be signed between Mr J.C.Sharma, Managing Director, Sobha Developers, and Mr T. Balakrishnan, Principal Secretary, State Industries Department in the presence of Sobha Group Chairman, Mr P.N.C.Menon, and the Industries Minister, Mr Elamaram Kareem, at Thiruvananthapuram on Monday.

PPP initiative

Initiated by the Department of Industries and Commerce, the MoU seeks to reinforce the PPP (public private partnership) initiative by the Kerala Government to bring the highest-ever investment in the State, Mr P. Ramakrishnan, Regional Director (Kerala), Sobha Developers Ltd, said at a press meet here on Saturday.

The project, which will be developed in 8 years, will come up in Maradu near Kochi in an area of around 400 acres.

It will include a 7 million sq ft knowledge park, retail shopping malls and avenues, hotels, resorts and other leisure facilities, residential complexes and all related infrastructure including a marina.

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