Technopark Phase III launched!

The oldest and foremost IT park in India – Technopark, Trivandrum embarked on a new stage of growth with the commencement of work on its third phase. Phase III of Technopark will cover an area of 92 acres and will be an IT/ITES special economic zone. While 40 of the 92 acres will be developed by a private developer, the remaining land will be developed by the Technopark authorities.

Some of the land being retained for development by the Technopark authorities will be offered to individual IT companies to build their own campuses. About 60 of the 92 acres have already been acquired and the remaining land will be acquired in three months. The total investment in phase three of the park is expected to be over Rs 1,500 crore.

According to the current plans, work on the third phase of the park will be completed by 2012. Once phase three is complete, Technopark will have a built-up area of around 10 million square feet and will directly employ at least 100,000 IT/ITES professionals. Currently it has  4 million square feet of built-up space and has around 20,000 IT/ITES professionals working in it.

The second phase of Technopark encompasses the campuses of Infosys Technologies and UST Global. The first building in the Infosys campus is expected to be operational by early next year.