Mega Technopark Project Awaiting Nod.

Taurus Investment Holdings, which is all set to roll out a major infrastructure development project in Technopark Phase III, involving an investment of Rs 1,200 crore, said it was hopeful of getting the final government clearance within a few weeks.

Named ‘Taurus Downtown Technopark’, the public-private partnership project envisages development of over 35 lakh square feet in Technopark Phase III, of which 25 lakh square feet will be dedicated for IT office space and the remaining 10 lakh square feet for setting up IT-supporting infrastructure.

The US-headquartered multinational company and its partners Hansji Corporation and Rose Global, LLC, had won the project through the Swiss Challenge method.   However, final approval for the project has been hanging fire for months reportedly due to certain reservations of the Department of Industries.

The project was one of the major infrastructure projects showcased during the Emerging Kerala Meet in 2012.

“What was last heard from the government was that a technical sub-committee had endorsed our proposal.

“We don’t see any reason why it (approval from the Government) should not happen.

“We have full faith in the system and we are hopeful of getting the final clearance in a few weeks,” Ajay Prasad, Managing Director - India, Taurus Investment Holdings, told a news conference here.

The project is spread over 19.74 acres in Technopark Phase III.While 10 acres fall under Special Economic Zone (SEZ) leased from Technopark, the remaining 9.7 acres comprise of commercial land. Asked about the company’s future course of action if the government did not approve one part of the project in the non-SEZ land, Ajay said the two projects are “integrally linked”.

“The Swiss challenge was for a single, integrated project,” he said adding that the Swiss Challenge method has also been endorsed by the Supreme Court.

The “IT-supporting infrastructure” comprises of two business class hotels, an international convention centre, retail and entertainment facilities.

“Downtown Technopark will play a crucial role in attracting the world’s best companies and employees to Thiruvananthapuram. It will also improve the quality of life of the employees in Technopark and those of the people living around it,’ Ajay said.

Source : newindianexpress.com