Muthoot Pappachan Group plans Rs 60 crore investments in Kochi

Kochi, Nov 15 (UNI) The Muthoot Pappachan Group (MPG) today announced plans to invest Rs 60 crore in a residential complex near Nedumbasserry International Airport and a budget hotel for providing support facilities for the IT sector in Kakkanad here.

Addressing a press conference here on the occasion of the formal launching of the 'Muthoot Technopolis' IT park in the Cochin Special Economic Zone (CSEZ), MPG Managing Director George Muthoot said the group had asked the CSEZ for another two acres of land for the second phase of Muthoot Technopolis.

He said almost 60 per cent of the space in 'Muthoot Technopolis I', spread over 2.5 acres, had been leased out. While Wipro and Sutherland were already functioning from the complex, two new clients, Cognizant and Williams Lea, would start their operations in a month's time.

Talks were on with five other companies for leasing out the remaining space, he added.

MORE UNI ARC VV GS 1620