Muthoot to set up Rs 450 crore IT park in Kochi

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Muthoot Group, one of the leading business group in Kerala with diverse business interests, signed an agreement to set up a 10 lakh square feet twin building at the Kochi Infopark Phase II campus at an investment of Rs 450 crore.

The venture which would provide direct employment to 8,000 professionals when ready is going to be a joint development between Muthoot and Infopark.

The agreement was inked here on Friday between Hrishikesh Nair, CEO Infopark and George Alexander Muthoot, managing director, Muthoot Finance in the presence of Chief Minister Pinarayi Vijayan and other officials.

The Muthoot group will construct one tower of five lakh square feet and the second tower of the same size will be added later, by 2020.

“The government has very focused plans to aggressively market Kerala as an IT destination. For this we want private players to invest in IT infrastructure,” said state IT Secretary M. Sivashankar.

“With Muthoot joining us in co-developing IT/ITES infrastructure, their reputation in the market will add a lot of value as Infopark’s partner in the IT ecosystem development for Kerala,” said Nair.

“Apart from supporting the growth of IT companies, we also wish to set up Business Incubation Centres to support and develop smaller companies that are looking for small spaces in Kochi with facilities such as food court, plug and play services, and IT business centres,” said Muthoot. IANS

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