Taurus to invest 1,200-cr at Technopark
The Taurus Investment Holdings, LLC, a global PE investment and development firm is planning to invest Rs. 1, 200 crore in IT and social infra at Technopark, Thiruvananthapuram.
Mr. Ajay Prasad, Managing Director, India, Taurus Investment Holdings says that these 1,200 crore is part of proposed 3,000 crore which is to be invested in developed assets for the country as a whole over next five years.
First Investment
The Taurus Investment Holdings and its partners are planning their first investment in Thiruvananthapuram’s Technopark. Mr. Prasad mentioned that a full-owned subsidiary, Taurus Development Advisory has been registered, making Taurus the first global PE organization started in Thiruvananthapuram.
Taurus Downtown Technopark is sanctioned to be constructed within phase 3 in a public private partnership with Technopark. Taurus expects to receive final approval for the construction of the project and plans to begin the construction within six to eight months.
World-Class Space
Taurus Downtown Technopark is expected to produce over 25,000 direct and 75,000 indirect employment opportunities, as phase 1 is expected to become operational in 2016. The project predicts the world class development consisting comprising 25 lakh sq ft of IT office space and 10 lakh sq ft of IT supporting infrastructure. The IT office space commonly located within the IT SEZ which is developed by Technopark.
Mr. Prasad says that the project involves the investment of 1,200 crore in two to three phases, making it the largest foreign direct investment into Kerala by a US or European firm. This investment provides much needed social infrastructure at Technopark.
The Downtown Technopark is planning to attract the best companies and employees and try to improve the life style of employees in Technopark and people living around the Technopark.
Mr. Prasad also says that Hilton International has been signed up to run two business class hotels at Downtown Technopark. Taurus is planning to establish class ‘co-working spaces’ for small organizations.
The Technopark will provide more investment in Kerala, including signature projects such as sanctioned Knowledge City and other knowledge-related projects of the State Government.
Source: The Business Line
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