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Wednesday, May 21, 2008

More on Technocity

The Govt. of Kerala has officially announced the commencement of development of Kerala's largest IT project with an advertisement appearing the regional and national editions of the Economic Times, Business Standard and the Business Line.

When completed Technocity will have 2 crore sq.feet IT space

Biggest ever IT project shaping in State

The biggest- ever IT project of the Kerala Government, Technocity is taking wings. The Kerala State IT Infrastructure Limited (KSIIL), the implementing agency of the Technocity, will invite tenders from IT developers and companies on May 28 for starting the Rs 8,000-crore project of the State Government.

The project will come up near the Technopark in Thiruvananthapuram.

The KSIIL will issue the 49 percent equity of Technocity to the public, private investors, banks and other financial institutions by September this year. The 51 percent equity will be owned by the KSIIL.“The Technocity project will be the biggest ever IT project of Kerala. The project is expected to create around two lakh job opportunities within 10 years and by issuing the share to the public and others, government can start the project with the participation of people,” IT Secretary Ajay Kumar told this website’s newspaper.

The bidding process will be conducted in phases. In the first phase (Request For Qualification) qualified IT companies will be short-listed.In the second phase (Request for Proposal) will be invited and tender will be finalised in December. Different IT companies and IT developers will set up buildings in an area of 2-crore sq ft in the park. The state government will have a stake of 26 percent in the proposed companies. Companies can use 70 percent of space for IT processing and the remaining for other purposes.“We are trying to sell our project across the globe and attract IT giants to the state. The project will generate more job opportunities than the Smart City Kochi. More IT giants can start their ventures at the Technocity than the Smart City Kochi,” said Ajay Kumar.The estimated infrastructure of the project will be Rs 800 to 1,000 crore. Of this, 500 crore will be utilised for purchasing land near the Technopark and Rs 300 crore will be spent for the infrastructure like water and power supply.

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