Infopark gets another co-developer for Phase-II.

Infopark has received another co-developer for its second phase of development. Muthoot Group will join hands with Infopark to set up a twin tower spread over 10 lakh sq.ft catering to IT and ITeS.

Infopark CEO Hrishikesh Nair and Muthoot Finance managing director George Alexander Muthoot signed an agreement in this regard in the presence of Chief Minister Pinarayi Vijayan and IT Secretary M. Sivasankar.

The proposed project will come up in an area of 9.37 acres in the Special Economic Zone. Muthoot Group will construct a tower of 5 lakh sq.ft initially, while a second tower of equal capacity will be built later. On completion, the project is expected to provide direct employment to over 8,000 professionals.

“The government plans to aggressively market Kerala as an IT destination. For this, we want private players to consider investing in IT infrastructure. Muthoot Group’s participation in this space will be a massive boost for local groups to invest in the State’s IT infrastructure,” Mr. Sivashnkar was quoted as saying in a release.

“With Muthoot Infopark joining us in co-developing IT/ITeS infrastructure, its reputation will add a lot of value as Infopark’s partner in the State’s IT ecosystem development,” Mr. Hrishikesh Nair said.

Rs.450-cr. investment

The project entails a total investment of Rs.450 crore, and the twin towers are expected to be operational by 2020. “Muthoot Group also plans to set up business incubation centres to support and develop smaller companies that are looking for affordable space in Kochi,” Mr. George Alexander Muthoot said.

George Jacob Muthoot, joint managing director, Muthoot Finance; George Varghese, executive director, Muthoot Institute of Science and Technology, and Infopark Marketing Manager Arun Rajeevan were present during the signing of the agreement.

THE HINDU