Another group joins race for IT Park

Thiruvananthapuram, Mar 15 (UNI) After the Hongkong-based J B group of companies' offer to set up an IT park in Kochi last week, another Keralite group -- the Muthoot Papachan group -- has joined the race envisaging its interest in developing an IT park with the expressing Non-Resident Keralities (NRK).

The Kochi-based Metropolis, an integrated company of the Muthoot group, which is in financial business, today held talks with Chief Minister V S Achuthanandan and submitted a proposal in this regard.

It had offered 26 per cent of share to the government and another 25 per cent to the NRKs, sources said.

The company proposes to develop 200 acre land on lease hold basis for 99 years for IT and also had offered Rs 90 lakh per acre for the land.

They also claimed that if the park was completed in three years, it would generate about 80,000 employment opportunities and indirectly give jobs to about three lakh people.

Last week, the J B group had also held talks with the Chief Minsiter regarding starting an IT park. Meanwhile discussion with the Dubai Technology and Media Free Zone Authority (TECOM) is in the final stages for the Smart city IT project in Kochi.

UNI