Sunday, May 12 2024 | Time 09:07 Hrs(IST)
image
Business EconomyPosted at: Oct 12 2018 5:39PM


Kerala CM inaugurates Rs 1,500 crore Taurus Downtown Project

Thiruvananthapuram, Oct 12 (UNI) Plans are afoot to increase the IT parks space in Kerala from 1.3 crore square feet to 2.3 crore square feet, Chief Minister Pinarayi Vijayan on Friday said, while inaugurating the much-anticipated Rs 1,500-crore Taurus Downtown Trivandrum project coming up at Technopark.
Speaking in the presence of Prof Lorenz Reibling, Chairman, Taurus, the Chief Minister said here that such a massive expansion in the IT parks space would enable creation of 2.5 lakh direct jobs besides increasing software export and attracting investors to the state.
“As a priority sector, the government is giving emphasis on creating a necessary social milieu and basic infrastructure in the IT sector, aiming at increasing software export and attract investors,” Mr Vijayan said.

The phase-I of Downtown Trivandrum project will be completed by 2020, he said, and also unveiled the model of the project on the occasion.

The Rs 1,500-crore project envisages construction of Embassy Taurus TechZone, a 33–lakh square feet IT space, Taurus Zentrum, a 12-lakh square feet retail space, 315-room service apartment Asset Taurus Identity and a 200-room business hotel.

The total built-up area of the project is 57 lakh square feet. Entire project will come up in 20 acres in phase III campus of Technopark. Of the total 20 acres, 12.43 acres will be exclusively for office space and remaining for retail, hotel and serviced apartments.

Leading SEZ builder Embassy Group is associating with Boston-headquartered Taurus Investment Holdings for the project.

The office space will have plug-and-play facilities for startups and small businesses. On completion, it can bring direct employment to 35,000 and indirect employment to another 75,000.
Out of the 22.16 acres, 12.43 acres is under the Special Economic Zone (SEZ) and 9.73 acres in the non-SEZ.
Dr Shashi Tharoor MP, Thiruvananthapuram; V.K. Prashanth, Mayor, Corporation, Thiruvananthapuram; M Sivasankar IAS, IT Secretary, Government of Kerala; Hrishikesh Nair, CEO, Technopark; Ajay Prasad, Country Managing Director, Taurus; Jitu Virwani, Chairman and Managing Director, Embassy Group; and V. Sunil Kumar, Founder and Managing Director, Asset Homes spoke at the function.
The biggest foreign investment in the construction sector of the IT field after Smart City, a tripartite lease agreement for the project was signed in the presence of the Chief Minister in March 2018.
UNI DS CS 1740
Please log in to get detailed story.
Tags: #Kerala CM inaugurates Rs 1#500 crore Taurus Downtown Project
More News

Kottayam-Kochi Rubber Market Rates

11 May 2024 | 9:04 PM

Kottayam, May 11 (UNI) Following were the Rubber Market rates announced by the Rubber Board here today per quintal
KOTTAYAM
RSS FOUR: 18050
RSS FIVE : 17800
KOCHI
RSS FOUR : 18050
RSS FIVE : 17800
UNI PA GNK.

see more..
Flipkart and Bajaj Auto team up to drive sustainable deliveries with Green Machines

Flipkart and Bajaj Auto team up to drive sustainable deliveries with Green Machines

11 May 2024 | 3:16 PM

Kolkata, May 11 (UNI) Bajaj Auto Ltd, the world's most valuable two-wheeler and three-wheeler company, and Flipkart, one of India's leading e-commerce marketplaces, on Saturday announced a strategic partnership to accelerate the adoption of electric vehicles (EVs) in the latter's last-mile delivery operations.

see more..

11 May 2024 | 2:52 PM

Mumbai, May 11 (UNI) Union Bank of India (UBI) reported a 19 percent year-on-year increase in the fourth quarter standalone net profit at ₹3,310.55 crore, supported by growth in net interest income (NII) and a sharp decline in loan loss provisions.

see more..

India's factory output grows 4 9 pc YoY in March 2024: Govt data

10 May 2024 | 8:24 PM

New Delhi, May 10 (UNI) India's factory output measured in terms of Index of Industrial Production (IIP) grew 4.9% year-on-year (YoY) in the month of March 2024, data from Ministry of Statistics & Programme Implementation (MoSPI) showed on Friday.

see more..

Kottayam-Kochi Rubber Market Rates

10 May 2024 | 7:43 PM

Kottayam, May 10 (UNI) Following were the Rubber Market rates announced by the Rubber Board here today per quintal
KOTTAYAM
RSS FOUR: 18050
RSS FIVE : 17800
ISNR TWENTY: 15300
SIXTY PERCENT LATEX: 13210
KOCHI
RSS FOUR : 18050
RSS FIVE : 17800
INTERNATIONAL RATES (BANGKOK)
RSS One : Not Available
RSS Two : Not Available
RSS Three: Not Available
RSS Four : Not Available
RSS Five : Not Available
KUALALUMPUR
SMR TWENTY :13752($164.70)
SIXTY PERCENT LATEX : 12999($155.70)
UNIPA GNK.

see more..
image