Thiruvananthapuram: The Technopark will ink a framework agreement with US-based Taurus Investment Holdings LLC USA for a Rs 1,200-crore worth ‘Downtown’ project on Wednesday.
Two IT buildings with a total of 1.8 million sq ft built-up area will be constructed in the 10 acre Special Economic Zone of Technopark’s Phase 3 campus as part of the project.
The framework also includes the development of another 9.73 acres in the non-SEZ commercial land for construction of offices, a retail mall, hotels, convention facilities, multiplexes and other utilities to support the existing and future activities of Technopark.
Discussions are also on to launch a world-class innovation hub, supported by global institutes and corporate partners, within Downtown Technopark.
“On completion, the project is expected to add 20,000 additional direct employment opportunities within the Park, besides contributing to the overall development of the region,” said Technopark CEO KG GirishBabu.
The framework agreement will be signed between Erik Rijnbout, President, Taurus Investment Holdings, LLC, Ajay Prasad, Country Managing Director of Taurus India and K.G.Girish Babu, CEO Technopark, in the presence of Oommen Chandy, Chief Minister of Kerala , P K Kunhalikutty, Minister for Industries and IT, PH Kurian, Principal Secretary Industries & IT, at the CM’s conference hall in the Government Secretariat.
The first phase will include approximately 15 lakh sq.ft. of built up area of office, while and an additional 9.4 lakh sq.ft of built up area office will be developed in the second phase. With respect to the IT Support Infrastructure, 12 lakh sq.ft. of retail, social infrastructure and hospitality space will be developed in Phase 1 and a second hotel of 1.2 lakh sq.ft. in Phase 2.
Construction of the first phase will be completed by mid- 2018 and the second phase will be completed by 2020.