Infosys Ltd will set up a new campus at Technocity here, estimated to cost Rs 600 crore (Rs 6 billion), providing a boost to the IT sector in the state.

This will be the Infosys' second campus in the state. The state government singed an agreement on Wednesday with Infosys to hand over 50 acres at Technocity, which forms a part of the fourth stage of expansion of the Technopark.

Chief Minister Oommen Chandy, State Industries Minister P K Kunhalikutty and Infosys Executive Co-chairman Kris Gopalakrishnan and senior officials of the government and Infosys were present on the occasion.

The new campus is coming up at a 10 lakh sq feet area that would provide direct employment to over 10,000 people and indirect employment to over 50,000.

The campus will give a boost to IT sector in Kerala, which already had over 20 per cent share of the total IT exports from the state, Chandy said.