Saturday, May 29, 2010

Technocity project launch on June 4

THIRUVANANTHAPURAM: Technocity, Keralas biggest IT/ITES project, will be launched by Chief Minister V.S. Achuthanandan on June 4. The 450-acre facility will come up at Pallippuram, near here, Chief Executive Officer (CEO) of the Technopark Mervin Alexander has said.

He was addressing a press conference here on Saturday along with Infopark CEO Siddhartha Bhattacharya and Cyberpark CEO Binu Pazhoor. On completion, the latest IT Park would generate one lakh direct and four lakh indirect employment opportunities.

Technocity will be developed as an integrated township encompassing IT/ITES infrastructure, residential apartments, shopping malls, hospitals, hotels, educational institutions and other support facilities.

Acquisition of land for the project was completed earlier this year at a cost of Rs.340 crore. This was funded by a consortium of banks lead by the Central Bank of India, he said.

�Technocity is designed to address the socio-economic commitment like rural development, employment creation, earning of foreign exchange, increasing tax collection, etc. with an assured financial feasibility. An investment of over Rs.6,000 crore is expected in the mega-project which will be developed on public private partnership (PPP) basis, Mr. Alexander said.

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