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Thiruvananthapuram, Feb. 27

US Technology will invest Rs 500 crore in setting up its own world-class campus on the 36 acres of land acquired on lease from the State Government.

Mr Sajan Pillai, President and Chief Operating Officer, US Technology, and Mr V. J. Jayakumar, Chief Executive Officer (in-charge), Technopark, signed the lease agreement for the land in the presence of the Chief Minister, Mr Oommen Chandy, at a function held here on Monday.

Also present on the occasion were Mr P.H. Kurian, IT Secretary, and Mr Murali Gopalan, Senior Vice-President-India, and Mr G. S. Krishnamoorthy, Director, Chennai Operations, US Technology.

The Chief Minister said his Government welcomed IT/ITeS companies which has the potential to provide huge employment opportunities to the educated youth of the State. The 500-acre `Techno City' being developed in the outskirts of the city would be able to provide jobs to nearly 50,000 people.

According to Mr Kurian, Technopark is currently full and the Government is arranging more space for big companies looking to invest in the State.

(This article was published in the Business Line print edition dated February 28, 2006)
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