Rs.2,300 crore Cyber City announced in Kerala

February 17th, 2011 - 9:09 pm ICT by IANS  

Kochi, Feb 17 (IANS) Housing Development and Infrastructure Limited (HDIL) Thursday announced a Rs.2,300 crore Cyber City project near here which is expected to generate 60,000 new direct jobs.”HDIL Cyber City will be a catalyst to Kerala’s economic growth. The project is expected to generate 60,000 new direct jobs. Apart from these, construction of the entire project is expected to require nine million man-days, which is again a major employment opportunity for the people of Kerala,” HDIL chairman Rakesh Kumar Wadhawan said.

The state government has granted the necessary clearances to the project which acquired a complete Special Economic Zone (SEZ) status from the centre to come up at Kalamassery near here.

The promoters of the project, Blue Star Realtors Private Limited, the 100 percent owned subsidiary of HDIL, will invest Rs.2,300 crore in the project.

The project will come up on 70 acres of land at Kalamassery Special Economic Zone. Buildings and structures will occupy 20 percent while the rest 80 percent will comprise of green space.

State Minister for Industries Elamaram Kareem inaugurated the commencement of construction activities of the project at a ceremony held at the site.

The project is designed to be completed in three phases and would include amenities like hospital, training school, shopping complex, multiplex and office spaces for IT companies. The residential component will also be developed simultaneously.

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