Date:19/01/2008 URL: http://www.thehindubusinessline.com/2008/01/19/stories/2008011950922300.htm

Back HDIL to set up cyber city in Kochi

Our Bureau

Kochi, Jan. 18 Housing Development and Infrastructure Ltd (HDIL) has announced its plans to set up a cyber city in Kochi at an investment of Rs 4,000 crore.

The project, to be implemented through Blue Star Realtors Pvt Ltd, a subsidiary of HDIL, will be spread across an area of 70 acres at Kalamassery near here. Mr Rakesh Kumar Wadhawan, Chairman of HDIL, said at a press meet here on Thursday that the cyber city would be Kerala’s first integrated IT township having, besides IT/ITES, residential apartments, villas, schools, shopping malls, multiplex, club house, service apartments and a star hotel.

The Chief Minister, Mr V.S. Achuthanandan, will lay the foundation stone on Saturday for the project, which will be completed over a period of 48 months.

World-class hub

HDIL cyber city will have a built up area of 80 lakh sq ft and by setting up the facility, the company proposes to create a world class IT hub thereby providing 60,000 direct and 1,50,000 indirect jobs in Kochi, Mr Wadhawan said.

Besides providing job opportunities, the project will also generate over Rs 425 crore revenue for the Kerala Government by way of stamp and registration duty, and employee welfare and village tax, he added.