TechnoCity is expected to generate 50,000 IT jobs

The fourth phase of the Technopark here, branded TechnoCity, is expected to generate 50,000 direct jobs and provide indirect employment to 2 lakh, according to officials of the Kerala IT department.

The state IT department has announced completion of all formalities pertaining to acquisition of the 451 acres required for TechnoCity. In addition to 205.11 acres of land acquired by June 2009, 245.89 acres have been acquired since then, completing the land acquisition exercise. Officials said the state government had finalized the rehabilitation package for evictees affected by the project.

TechnoCity is proposed to be a complete IT city, with space set aside for residential, commercial, hospitality, medical and educational facilities, besides the infrastructure for IT/ITES companies. Officials said the project would be a self-dependent satellite city, without putting a constraint on the resources and infrastructure of the state’s capital.

Kerala IT principal secretary Ajay Kumar said, that in addition to IT, focus areas of TechnoCity would be biotechnology, nano technology, high-end manufacturing and R&D. He said the entire project would be developed through multiple special purpose vehicles, in association with leading developers, adding that TechnoCity would be an integrated township.

Technopark CEO Mervin Alexander said land acquisition for the project was completed without any major hiccups. He said Technocity was a fast track project and that the project would now gain momentum and work on infrastructure development like power, water supply and internal roads would be undertaken immediately.

Technopark is also developing its Phase III campus in a 90-acre area with both SEZ and non-SEZ space. Under its hub-and-spokes model, Technopark is also developing its first spoke unit at Kundara in Kollam district.

source: economictimes.indiatimes.com