A Dubai based consortium of NRIs from various countries around the world propose to invest over Rs 2000 crore in Kerala to set up IT/ITES enabled Business Parks and Life Spaces projects.
The investments would primarily be through Foreign Direct Investment (FDI), Sebastian Joseph, Chairman of the Consortium, told reporters here.
The proposed 'Emerging Kerala' initiative of the state government here next month and its investment friendly policies have given the NRIs confidence to start their project in Kochi, he said.
Pravasi Investment Consortium & Equity Holdings Ltd (PRINCE Holding) promoted Prince GATES ( Global Advanced Technology Enabled Society) projects are proposed to be set up in about 100 acres in Kochi, Joseph said.
The consortium is awaiting clearances from the concerned authorities and discussions are on with various government authorities and execution partners in this regard, he said. The project is expected to give 20,000 job opportunities.
Each GATES project will contain a Special Business Zone, a Centre for Excellence in Advanced Technology and Innovation, an International Financial Centre, an Education Zone and Hospiltality zones comprising clubs, spas, Service apartments and NRI facilitation centre, he said.
This is perhaps first of its kind investment by NRIs in the country.
At least 350-500 NRIs are participating in each of the projects as a part of the consortium. After the Kerala project takes off, plans are to replicate the same model in other major South Indian cities like Bangalore and Chennai, Joseph said.
The development is envisaged to be completely 'sustainable' and 'self sufficient'.
The focus is to collectively pool resources of individual consortium members to create an infrastructure that is conducive to and supporting of technology based firm.
It is aimed at facilitating interaction, technology development, economic growth, new venture creation, Shaji Baby John, Chairman Kings Infra Ventures ltd, said.
http://www.gulf-times.com/site/topi...=525872&version=1&template_id=40&parent_id=22Kerala readies ‘biggest’ software hub plan
Kerala has finalised the master plan for its biggest information technology park, Technocity, where software majors like Tata Consultancy Services and Infosys are setting up their new campuses.
Technocity, spread across 450 acres on either side of the national highway on the outskirts of the capital city, will offer state-of-art infrastructure facilities for intending investors.
The picturesque technopolis when fully commissioned will be an integrated IT township, encompassing IT/ITES infrastructure, residential apartments, shopping malls with multiplexes, hospitals, hotels, educational institutions and other support facilities.
“We have been getting enquiries from across the world seeking information on investment potential and possibilities. Once completed, Kerala would possibly become the focus of the IT industry in the coming years. It will also be showcased at the Emerging Kerala event in Kochi next month and Gitex in Dubai the following month,” said K G Girish Babu, the chief executive officer. The Technocity will have up to 30mn square feet of built-up space with multiple buildings for its tenant organisations and the estimated investment would be around Rs50bn.
It would also focus on areas other than IT such as bio-technology, nano-technology, high-end manufacturing and research and development.
Tata Consultancy Services (TCS) is setting up their Global Learning Academy with an investment of around Rs15bn in the 82 acres that has already been allotted to them. This will be one of the largest such facility in Asia with a capacity of 16,000 seats. Infosys, the second largest software exporter after TCS, has already acquired 50 acres with a Special Economic Zone status. Technopark would be developing a 50-acre campus for companies who want to set up their IT/ITES units in the Technocity campus.
SunTec Business Solutions also plans to set up its campus in the 10 acres allotted to it. Other major IT companies will also be setting up offices besides important educational and research institutes like the Indian Institute of Information Technology & Management –Kerala (IIITM-K) while the Asian School of Business which has its campus at Technopark’s first phase is in the process of setting up their campus on 10 acres in Technocity.
The Technopark has already become the single largest employment provider in Kerala. The Technopark has nearly 270 companies providing direct employment to more than 37,000 highly paid IT/ITES professionals and 150,000 people indirectly. “We are quite confident that after completion of this project, it would help in generating more talent in our capital and would provide more job opportunities for natives of Kerala and put the state firmly on the global IT map” said M Vasudevan, senior manager (business development), Technopark.
Emerging Kerala projects should be transparent: ‘Green’ Group MLAs
Fresh trouble is brewing inside the UDF over the upcoming Emerging Kerala investment meet with a group of UDF MLAs championing the cause of ‘Greens’ and openly demanding that the state government must ensure that all land transactions for Emerging Kerala projects are transparent and according to norms.
In a blog post, greenthoughtskerala. blogspot. in, which was started to discuss ‘Green’ politics, the MLAs demanded that all new projects and investments must adhere to the principle of sustainable growth. “It should be noted that all types of industries cannot be brought to Kerala.
The state has certain geographical peculiarities, and also has a very high density of population. These primary facts should be taken into consideration while we select projects. “The government should ensure that when new investment flows in, no harm is done to Kerala’s bio-diversity, environment and priceless natural wealth,” the blog said. The Green brigade in the UDF -MLAs V D Satheesan, T N Pratapan, Hibi Eden, V T Balram (all from the Congress), M V Shreyams Kumar from the Socialist Janata (Democratic) and K M Shaji of the IUML has come out with their stand at a time when the CPM-led LDF has decided to boycott the investment summit. The MLAs demanded that the Land Reforms Act, the 1980 Forest Act and all laws and regulations aimed at the welfare of the indigenous communities and primitive tribes should be followed in letter and spirit. “No dilution of these laws should be permitted. Land is a precious commodity in Kerala. And the availability of land is also limited. We must ensure that all land transactions for Emerging Kerala projects are transparent and lawful. Public land, whether it be revenue land or forest land, should not be handed over to private investors. The control and the ownership of the land should be with the government,” said the post. Further, it said that all land-related matters must be according to the laws of the land and strict regulatory measures should be incorporated in the basic project plan itself. “If land is being given on lease, very strict lease agreements should be in place. The lease rates should be in proportion with the market value of the said land and it should be renewed annually. The agreement should also ensure that the land is not being used for any other purpose other than for the original project,” the blog said.
Sudheeran: Bid to push through controversial projects
Controversial projects like mineral sand mining have taken a new avatar through Emerging Kerala summit, said senior Congress leader V M Sudheeran. Addressing the Kerala environment meeting organised by the Kerala Paristhithi Aikyavedi here on Sunday, he said that the project has been given a new name ‘sand processing’ under Emerging Kerala. The Emerging Kerala summit is attempting to promote several controversial projects
which were earlier rejected by the public, he alleged. The administrators too have a role in making the summit controversial, he added. Sudheeran demanded that a scrutiny of Emerging Kerala projects should be conducted by a committee headed by Chief Secretary and officials and environmentalists as members. All development projects should get the clearance of the committee. The Congress leader said that agencies like the Pollution Control Board and KSCSTE had several drawbacks. “The government should ensure transparency in development projects. It is unfortunate that officials who hold some key posts are not affected by change in governments,’’ he said. The state is facing a serious situation with paddyfields, rivers and forests fast disappearing. Drinking water shortage has become acute. Those who express opposition to environmental destruction are being branded as anti-development, he said.
Environmentalists R V G Menon, Sugathakumari, M K Prasad and V S Vijayan addressed the meeting which will conclude on Monday.
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