Technopark, Taurus ink deal on Phase 3 development

India's largest IT park Technopark today signed an agreement with US-based Taurus Investment Holdings for the third phase of its infrastructure development project worth Rs 1,200 crore.
The agreement was formally inked by Boston-headquartered Taurus Investment Holdings President Erik Rijinbout, its India Country Managing Director Ajay Prasad and Technopark CEO Shri Girish Babu in the presence of Chief Minister Oommen Chandy.
Minister for IT and Industries P K Kunhalikutty and former Technopark CEO G Vijayaraghavan were present at the function at the CMs' conference hall in the Secretariat.
Chandy termed the occasion as "momentous" in the history of the Kerala IT sector.

"This project was first discussed at the Emerging Kerala conference in September 2012. Those who asked what came out of Emerging Kerala are now criticising this project," he added.
The CM extended "full support" from the government for the project. "We should move with the times, the government has a clear vision to do so," he said.

Kunhalikutty said "the project is a feather in the cap for Kerala's current developmental streak."
'Downtown Technopark', located between Technopark Phase 1 and the US Technologies Global campus, is a mega project that will cater to the nearly 50,000 employees at this IT hub.

The development, which will be completed in over two stages, will provide employment to 20,000 people.
In the first stage, two buildings with 18 lakh sq ft built-up space will be constructed in 10 acres in Technopark's Special Economic Zone (SEZ).
The framework also includes developing another adjacent 9.73 acres in the non-SEZ commercial land for utilities like retail malls, hotels, convention centres and multiplexes.
"Construction on the first building for IT services, the retail mall and the hotel will start in January next year," said Ajay Prasad.
"It is scheduled to be completed by March 2018. The work on the second hotel and IT building will be completed in January and June 2020 respectively," he said.

Launched in 1990, Technopark is home to over 300 companies, employing 40,000 professionals.