The Bangalore-based Sobha Developers Ltd is setting up a Rs 5,000-crore hi-tech city project in Kochi to create an integrated city of world class standards with a focus on R&D, knowledge dissemination, electronics, IT and pure and applied sciences.
A memorandum of understanding in this regard will be signed between Mr J.C.Sharma, Managing Director, Sobha Developers, and Mr T. Balakrishnan, Principal Secretary, State Industries Department in the presence of Sobha Group Chairman, Mr P.N.C.Menon, and the Industries Minister, Mr Elamaram Kareem, at Thiruvananthapuram on Monday.
PPP INITIATIVE
Initiated by the Department of Industries and Commerce, the MoU seeks to reinforce the PPP (public private partnership) initiative by the Kerala Government to bring the highest-ever investment in the State, Mr P. Ramakrishnan, Regional Director (Kerala), Sobha Developers Ltd, said at a press meet here on Saturday.
The project, which will be developed in 8 years, will come up in Maradu near Kochi in an area of around 400 acres. It will include a 7 million sq ft knowledge park, retail shopping malls and avenues, hotels, resorts and other leisure facilities, residential complexes and all related infrastructure including a marina.
Source: The Hindu Business Line
http://propertybytes.com/?tag=kochi
A new hi-tech city on the anvil
Sobha Developers has signed a memorandum of understanding with the Kerala Government to build a Rs.5,000-crore hi-tech city in Kochi. The Sobha Group will develop an area of 400 acres under the brand name ‘Sobha Hi-Tech City’ and the Government has agreed to bring the project under single window clearance through which the Government will play the role of a facilitator for the implementation of the project.
The memorandum of understanding was signed on August 20 in Thiruvananthapuram. As per the agreement, the Government will also facilitate provisions for necessary utilities such as electricity, gas, water, sewerage system, communication, etc. Sobha Hi-Tech City will be an integrated city of world-class standards with focus on research and development, knowledge dissemination, information technology and pure and applied sciences.
The high-tech city will be located close to National Highway 47 bypass near Maradu in Kochi. It will have 7 million square foot of knowledge park, commercial space to provide business-friendly ambience within the city, hospitality and leisure projects, entertainment and amusement facilities, a marina of international standards and residential complexes with world-class amenities to provide work-life balance.
The Sobha Group will construct 30-meter-wide and 545-meter-long road connecting the existing main road to the Hi-Tech City. When completed, the Sobha Hi-Tech City would generate 75,000 direct jobs.
The project has been designed by a team of in-house architects at Sobha.
The project is expected to be complete in eight years depending on factors such as approvals and availability of materials, workmen etc.
The Chairman of the Sobha Group welcomed the Kerala Government’s support for the project expressed confidence that the hi-tech city would fulfil the aspirations of the people.
The project is expected to generate substantial employment opportunities apart from attracting fresh investments.
http://www.hindu.com/pp/2007/08/25/stories/2007082550360200.htm
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