Tata Consultancy Services to invest Rs 690 cr in Innovation Park in Kochi
In a big boost to the Kerala government’s bid to attract investment, leading IT services provider Tata Consultancy Services (TCS) has agreed to invest Rs 690 crore to set up an Innovation Park in Kochi.
The state government has allotted 36.84 acres of land to TCS Ltd for setting up a unit for Electronics Hardware & IT/ITES in KINFRA Electronics Manufacturing Cluster, Kakkanad, Kochi.
A Memorandum of Understanding (MoU) in this regard was signed here on Friday in the presence of Chief Minister Pinarayi Vijayan and Industries Minister P Rajeev, an official statement said.
KINFRA Managing Director Santhosh Koshy Thomas and TCS Kerala Vice President Dinesh P Thampi signed the MoU.
TCS Ltd intends to operate a campus for Electronics Hardware & IT / ITES in an area of ??36.84 acres of land in KINFRA Electronics Manufacturing Cluster, Kakkanad, with an investment of Rs 698 crore and would accommodate nearly 10,000 employees in a phased manner, the release said.
The proposed project will be named as the TCS Innovation Park, it said.
The first phase is expected to commence operations in the financial year 2023-24, the statement said.
Once the campus becomes fully operational, it would have a capacity to cater 10,000 employees to be achieved in a phased manner, it said.
While Rs 440 crore will be invested for building the IT complex, Rs 250 crore will be allocated for related developments, official sources said.
The park will be set up in a total built up area of ??16 lakh square feet, they said. The second phase of campus development will be planned later, sources said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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