KOCHI: An IT park employing around 12,000 people, a five-star hotel, residential townships, shopping and entertainment zones. The proposal to develop Thanthonni Thuruthu, off Marine Drive, as a knowledge city is finally gaining traction.
The 110-acre backwater island, home to around 80 families, has been caught in a time warp in terms of development, despite its proximity to the city. The government has now decided to clear the hurdles holding back the Rs 2,000-crore project.
The integrated project is being promoted by Bengaluru-based First Estate Properties Pvt Ltd. It is expected to generate more than 23,000 jobs, including direct employment to over 16,700 people. The plan also includes research centres, IT and IT-enabled services facilities, serviced apartments and retail space.
The plan was discussed at a Greater Cochin Development Authority (GCDA) meeting chaired by Chief Minister V D Satheesan on Saturday. The most significant piece of infrastructure in the proposal is a 750-m-long and 18-m-wide bridge connecting Thanthonni Thuruthu to Queen’s Walkway, near Marine Drive. The state government has sanctioned the bridge, MP Hibi Eden told TNIE.
“We have decided to move forward with the proposal. The bridge would provide the road connection needed to bring the island within easier reach of the city. The project could bring a new commercial address close to Marine Drive. The district collector will act as the nodal officer for the project,” the MP said.
The immediate task is to resolve the issues that have tied up the project, despite clearances obtained over the years.
“The company has acquired 48 acres of private land on the island for the long-delayed project. The meeting decided to clear the bottlenecks and move forward with the project. They had obtained several clearances, but were unable to begin construction,” said MLA Mohammed Shiyas.
Worth the isle
Project expected to generate 23,187 jobs, including 12,000 at the IT park
Five-star hotel, entertainment zones, research centres and township part of proposal
750-m-long bridge to link island to Queen’s Walkway.
Promoter firm has acquired 48 acres of land for project