Thiruvananthapuram: Aimed at setting up the much awaited Taurus Downtown, the Thiruvananthapuram Technopark signed an agreement with Taurus Investment Holdings (TIH) on Wednesday. Taurus Downtown is being set up by a joint venture between TIH and Embassy Property Development Holdings.
The tripartite agreement to lease 12.12 acres earmarked for the office in Technopark was signed by Hrishikesh Nair, CEO, Technopark, Ajay Prasad, Country MD, TIH and Jitu Virwani, CMD, Embassy Group at a function held in the presence of Kerala Chief Minister. Pinarayi Vijayan, M Sivasankar, Secretary, Electronics & IT; and Erik Rijnbout, Global President, Taurus India Holdings.
Taurus Downtown envisages creating world-class business infrastructure in Technopark. Projected with a total investment of Rs 2000 crore in two phases, Taurus Downtown involves development of a city center for Technopark with 50 lakh sq ft of IT SEZ and non-SEZ space. The project will include 1,80,000 sq ft of world-class office space in three towers, and a 700,000 sq ft space that would cater to retail space, entertainment areas and F&B outlets.
The project also includes a 175 key Business Hotel to be operated by Hilton. The office space to be branded as Embassy Taurus World Technology Centre, will also have plug-and-play facilities for startups and small businesses. On completion, Taurus Downtown is expected to generate 35000 direct employment and about 75000 indirect employment.
“The Embassy Taurus World Technology Centre that’s being set up in Technopark will impact Kerala’s IT scene like never before. We feel this project will facilitate creation of multiple employment opportunities and help the state to leapfrog to the status of top tier II destination in India,” Chief Minister Pinarayi Vijayan said.
“Taurus Downtown will give a prestigious facelift to Technopark and to Thiruvananthapuram as a whole. We shall extend all support required by TIH to ensure effective execution and timely completion of this project,” M Sivasankar, Secretary, Electronics & IT, added.
“Once the entire project is completed and operational, this will give a huge boost to the capital city and Technopark specifically by attracting global giants to set up operations here and at the same time provide huge employment opportunities to IT professionals,” said Hrishikesh Nair,CEO, Technopark.
According to Erik Rijnbout, Global President, Taurus Investment Holdings, “…One of the main reasons we chose Thiruvananthapuram to start our Indian operations is the partnership we were able to reach with the government and Technopark. We are very grateful for their cooperation and support. In addition, Thiruvananthapuram has a great social infrastructure which includes an outstanding university, great hospital system, an international airport, a very well-educated population and as a bonus it has beautiful beaches. Embassy Taurus World technology Centre will bring about a paradigm shift in the IT infrastructure of Thiruvananthapuram and Kerala. It is conceptualized to host leading multinational technology firms in a highly sustainable, smart district environment.”
The land filling activities will begin soon and the construction will commence as soon as the SEZ co-developer status and Single window are approved. Bengaluru-based International construction management firm, Synergy Property Development will manage the development of the project.