Kochi, Nov 16 (UNI) The Rs 1,500 crore 'Smart City' knowledge hub which will be set up here is expected to generate nearly one lakh jobs in the Informationa Technology (IT), Kerala Chief Minister V S Achuthanandan today said.
Mr Achuthanandan in his speech read out by Smart City Executive Director Farid Abdul Rahman, who formally unveiled the foundation stone for the project, said the joint sector project in which the state government will have a 26 per cent stake, will create 90,000 employments in the IT and IT enabled services (ITeS) sectors.
Pointing out that other companies had also shown keen interest in starting similar projects in Kerala, the Chief Minister said the LDF government was committed to turning the state into a hub of knowledge-based industries.
Stating that Kerala had a significant potential to become a hub of knowledge-based industries, he said the state had a vast talent pool and the government was committed to tap the state's tremendous potential for growth.
The state government is leasing 246 acre of land for 99 years for the Smart City project for Rs 104 crore.
The project, the first major FDI in the IT sector in Kerala, would be spread over 8.8 million square feet built up area, of which 70 per cent would be for IT and ITeS. It is to be modelled along the lines of the Dubai Internet City and Dubai Media City. UNI