STOCK MARKET BSE NSE

Big win for Kerala as TCS signs pact for Rs 700 cr investment in Kochi

A government release said TCS would employ 10,000 people at the end of the five years from the commencement of commercial operations.

Published: 17th September 2021 09:26 PM  |   Last Updated: 18th September 2021 10:38 PM   |  A+A-

Technocity

Technocity (File |EPS)

By Express News Service

THIRUVANANTHAPURAM/KOCHI: Tata Consultancy Services (TCS), the second-most valued company in India, is setting up an 'Innovation Park' in KINFRA Electronics Manufacturing Cluster at Kakkanad, Kochi, which is expected to create 10,000 jobs when the project is fully operational.

"TCS Ltd intends to operate a campus for Electronics Hardware & IT/ITeS in an area of 36.84 acres of land in Kinfra Electronics Manufacturing Cluster, Kakkanad, with an investment of around Rs 700 crore and would accommodate nearly 10,000 employees in a phased manner," said P Rajeeve, Industries Minister.

The proposed project will be named 'TCS Innovation Park'. The total built-up area of the proposed project is 16 lakh sq. ft. While Rs 440 crore will be invested by TCS for the built-up area including the land, another Rs 250 crore has been earmarked for plant and machinery.

A memorandum of understanding for the deal was signed between Kinfra MD Santhosh Koshy Thomas and TCS Kerala vice president Dinesh P Thampi, in the presence of Chief Minister Pinarayi Vijayan and Industries Minister Rajeeve in Thiruvananthapuram on Friday.

As per the plan, the first phase will commence functioning in the 2023-24 financial year. A government release said TCS would employ 10,000 people at the end of the five years from the commencement of commercial operations.

The second phase of the campus development will be planned later, according to a statement issued from the industries minister's office.

This is the second big major investment attracted by the Pinarayi 2.0 government. Recently, Tata Elxsi, a leading design and technology service provider, signed an MoU with Kinfra to expand its facilities in Kerala, with an investment of Rs 75 crore in the first phase.

TCS, India's top IT company, in February, had received the Kerala government's approval to invest Rs 1,500 crore in Technocity, an upcoming technology park coming up in Pallipuram, Thiruvananthapuram. The facility, which is coming up at 97-acres of land taken on lease, is dedicated to TCS's proposed investments in the fields of IoT, blockchain, AI, machine learning, data analytics. The Mumbai-headquartered tech giant also planned to set up an incubation centre for technology startups.

ALSO WATCH | Kutty School: A big 'small' idea to help poor students | Kerala



Comments(1)

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

  • sadanand b adka for wealth management

    Stop being slaves of Arabs. Set your house in order. You have best brains in India. Do not pawn them to Commis.
    14 days ago reply
flipboard facebook twitter whatsapp