KOCHI: The state government has decided to transfer 33.5 acres of land belonging to Traco Cable Company in Irumpanam to Infopark for the development of its fourth phase. The land in possession of Traco — a state government unit under the industries department — will be transferred for a price of Rs 200 crore. Infopark Phase IV will be launched after the Phase III project.
Industries Minister P Rajeeve said the government’s decision was made in accordance with Infopark’s request. The Traco land is located near Seaport-Airport Road.
A high-level committee comprising the principal secretary of the industries department, the special secretary of the IT department, officer on special duty of the industries department, Infopark CEO, and Traco MD was formed to finalise the terms of transfer. “Based on the agreement reached between Infopark and Traco, it was decided in a meeting convened by the chief minister to transfer the land for Rs 200 crore,” the minister said.
Rajeeve said that the amount received through the land transfer will be used for the future development of Traco Cable. “It will also help settle pending dues to workers. It was also decided after discussions with trade unions to merge the company’s Irumpanam and Tiruvalla units,” he added.