Kochi's Infopark gets Rs 320 crore investment

The phase II development of Infopark has received a shot in the arm with a pact being inked for fresh investments worth Rs 320 crore (Rs 3.20 billion) under the Public-Private Partnership (PPP) route.

"This financial year, Kerala is emerging as the best IT investment destination in the country. Infopark has been at the forefront in attracting IT investment to the state and there will be a few more deals ready to be inked this year," an Infopark statement said on Monday.

Kochi-based infrastructure developer Padiyath Innovation has signed a deal with Infopark to invest Rs 320 crore for the construction of one million sqft of intelligent IT infrastructure in multiple phases, it added.

The Padiyath Innovation is a joint venture between Harry & More Consulting Private Limited and its sister concern Sunrise Institute of Medical Sciences.

The new facility will provide direct employment to 7,000 IT professionals and to nearly 3,000 people in facility management and other support services.

A Memorandum of Understanding (MoU) for the same was signed between Infopark Chief Executive Officer Hrishikesh Nair and Padiyath Innovation World Private Limited Chairman Shri Harish Rahman Padiyath in the presence of Industries & IT minister, P K Kunhalikutty.

The "world-class, environment-friendly" infrastructure facility will come up on nearly 4.11 acres of land and it will be certified under the LEED 2011 Shell and Core Certification, the statement said.

It will have a state-of-the-art solid waste management and water recycling facility.

The centrally air conditioned building will have food courts, health club, gym and medical clinic.

It will also have a parking facility for 1,000 cars and a five- star rated lobby.