The Hindu Business Line : Kerala Govt to acquire 507 acres for Technocity

Kochi, March 16 The Kerala Government has decided to acquire 507 acres of land near the Technopark in Thiruvananthapuram to set up a new IT park called Technocity, the Chief Minister, Mr V.S. Achuthanandan, said. Preliminary steps have also been taken to set up IT parks in Kozhikode, Alappuzha and Palakkad.

Inaugurating ‘Tejomaya’, phase I of the L&T Tech Park project at Kochi, he said that the Government has also decided to form an IT infrastructure development company in the State.

He also launched phase II of the project, Signature Tower.

With a total built up area of 1.1 million sq ft envisaged in the two phases of the project, the L&T Tech Park expects to provide world class space for IT companies. IT majors like TCS, IBS and Arbitron have already booked space in Tejomaya.

Phase I

The first phase consists of 10 floors of built-up area with a cafeteria, health club, gymnasium, business centre and ATMs spread across 7.5 acres of land. It is expected to accommodate 3,500 employees.

The Chief Minister expressed optimism that the setting up of this and similar IT projects would enable the State to considerably increase the employment potential in the IT sector.

Taking it forward

The Left Front in the State had promised to create two lakh additional job opportunities during its five-year rule. But within the 22 months of its rule, the Government was able to create two lakh job opportunities in the IT sector alone in the Ernakulam district, Mr Achuthanandan said.

The Government plans to take the IT initiative forward by acquiring land, setting up IT parks where the private sector would establish the critical infrastructure, thereby attracting global companies to the State.

For its part, the envisaged IT infrastructure development company would also coordinate with the State and various departments to ensure speedy clearances for electricity, water supply, road connectivity etc. to accelerate the pace of IT infusion in the State.

To augment the capital base of the new company, it was also proposed to raise capital through the issue of equity.

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