Tata Consultancy Providers to take a position Rs 690 cr in Innovation Park in Kochi
To give a big boost to the efforts of the Kerala government to attract investment, leading IT service provider Tata Consultancy Services (TCS) has agreed to invest Rs 690 billion to build an innovation park in Kochi.
The state government has allocated 36.84 acres of land to TCS Ltd to set up an electronics hardware & IT / ITES unit in the KINFRA Electronics Manufacturing Cluster, Kakkanad, Kochi.
A related Memorandum of Understanding (MoU) was signed here on Friday in the presence of Prime Minister Pinarayi Vijayan and Industry Minister P. Rajeev, it said in an official statement.
KINFRA Managing Director Santhosh Koshy Thomas and the Vice President of TCS Kerala, Dinesh P. Thampi, signed the letter of intent.
TCS Ltd intends to operate an Electronics Hardware & IT / ITES campus on 36.84 hectares of land in the KINFRA Electronics Manufacturing Cluster, Kakkanad, with an investment of Rs. 698 billion and would gradually add nearly 10,000 employees. said the publication.
The proposed project will be referred to as the TCS innovation park, it said.
The first phase is scheduled to start operations in the 2023-24 financial year, the statement said.
As soon as the campus is fully operational, it could gradually supply 10,000 employees, it said.
While Rs 440 crore will be invested in building the IT complex, Rs 250 crore will be allocated to related developments, official sources said.
The park will be built in a total built area of 16 lakh square feet, they said. The second phase of the campus development is to be planned later, it said.
(Only the headline and image of this report may have been revised by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.)
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