Technocity: All set for the next IT revolution

Kerala IT is on fast phase augmentation and the launch of Technocity has sparked another global IT revolution. Today’s Technocity on completion will be the largest technology park and Special Economic Zone in Kerala. It is one of the biggest projects of Technopark that will be developed in 450 acres of land in Pallippuram, 5Kms north from the main campus on the NH 47 to Kollam, as an integrated township, encompassing IT/ITES infrastructure, residential apartments, shopping malls, hospitals, hotels, educational institutions, and other support facilities.

The project, first of its kind, in the State would be a trail-blazer and will provide 100,000 IT/ITES jobs directly and 400,000 indirect jobs and will place Kerala resolutely in the global IT map as an IT powerhouse.

Technocity is designed to address the socio-economic commitment like rural development, employment creation, earning of foreign exchange, increasing tax collection etc. with an assured financial feasibility. An investment of over Rs 6000 crores is expected in this mega-project which will be developed on Public Private Partnership (PPP) basis. Considering the vast area, the project will be developed in a phased manner over a period of seven years of which the first major phase will be completed in a period of two years, to enable the parks to commence functioning by July 2012. The land acquisition for the same was completed earlier this year at a cost of Rs.340 crores funded by a consortium of banks headed by Central Bank.

Main highlights of Technocity

Technocity is well connected through road, as the campus is adjacent to the National Highway. The IT city is just 30 minutes drive from Trivandrum International Airport. Government of India through IT department and in coordination with Indian Railways is now working on a plan to develop the Kazhakuttom railway station (the closest railway station to Technopark campus and Technocity) with good infrastructure. So precisely the Technopark and its subsidiary parks are well connected, starting from Trivandrum up to Kollam.

Asian School of Business (ASB) is developing their state-of-the-art campus in the Technocity area. This will be one of the most modern campuses in the country when fully completed. Also The Trivandrum International School is very close to the Technoctiy. With the establishment of Technocity, the whole belt will qualify for consideration under the Government of India scheme of Information Technology Investment Regions (ITIR).

Kovalam, one of the most sought after tourist destination in Kerala is about 30Kms from Technocity. The tourism attraction adds value to the strategic location of Technocity.

Kerala has 60 per cent cheaper rents, 50 per cent lower operational costs, and the lowest power and water tariffs. A low cost of living means, lower cost to company per employee. Kerala is now already a recognizable place for the leading global IT players and many of them have expressed their business interests because of Kerala’s inimitability and our cultural diversity. Kerala is one of the best-networked States in the country in terms of telecom and datacom. The state’s tele-density is double the national average and all the telephone exchanges are digital. VSNL’s International Communication Gateway, with 2 high speed submarine cable landings (SEA-ME-WE-3 and SAFE) offering 15 Gbps bandwidth, is in Kochi. This gateway currently handles more than two thirds of the country’s data traffic. Optical Fiber connectivity up to the grass-root level makes high quality, reliable bandwidth available in any part of the State. In Human Development Index, Kerala heads the States in India and its achievements are comparable to those of the developed nations. Kerala has also achieved universal literacy. Also Kerala is one of the most vibrant and globalized societies in India, with a strong and mature service sector and one of the highest consumer spending profiles in the country. For Technocity all these factors will definitely allure global investments and make Technocity a global IT city.

Technocity is being developed as a satellite city that will not depend on the resources of Trivandrum city and the State government is leaving no stone unturned to ensure the same. Kerala Water Authority is preparing a Detailed Project Report for an exclusive water supply system for Technocity. The officials have already taken up with PWD for improvement and maintenance of approach road to Technocity. Technocity project would also aim for investments in biotechnology, nanotechnology, high-end manufacturing and R&D. The project will be developed through multiple special purpose vehicles (SPVs) in association with private participants as well. Once completed, Technocity will become the largest IT city in India.

It already applied for funding to Japan International Cooperation Agency through Department of Economic Affairs, Government of India (GoI) for Rs.170 crores towards the infrastructure development of Technocity. Kerala State IT Infrastructure Ltd (KSITIL) is the developer of the project. The master plan for the project has been completed envisaging the most suitable way to develop the IT city at the maximum possible speed to break down the entire area into smaller land parcels and develop through Public Private Participation model.