Muthoot Group plans second IT park in Kochi

Muthoot Pappachan Group (MPG), a multifaceted family business group of Kerala, plans to open its second IT park at Kochi.

The group proposes to start the park adjacent to Technopolis, the first-ever IT park of the group in the Cochin Special Economic Zone (CSEZ), Kakkanad.

George Muthoot, managing director of the company, said that the company has already submitted a request to CSEZ for allotment of an additional two acres of land for commencing the proposed second park. He said that the new park would be developed as part of the second phase of Technopolis.

The infrastructure division of the group is currently holding discussions with a major IT company based in the US to set up a 'built to suit' campus here.

Apart from the expansion of Technopolis, the group has already proposed to set up another IT park at Nedumbassery, near the Kochi International Airport.

"We have already acquired eight acres of land near the airport for the project. But in the meantime Cochin International Airport Limited (CIAL) has proposed to commence an IT park of their own. So we have not finalised the project so far. We are also planning to develop the project as a supportive facility for the proposed mega projects in the vicinity of the airport", he added.

MPG will also construct a budget hotel and other support facilities for IT at Kakkanad. All the three projects, which envisage the future road map of the group will require a total investment to the tune of Rs 60 crore. He added the group was also planning to develop various projects outside the state as well.

The company today announced the official launch of Muthoot Technopolis, the first private sector Technopark in Kerala with Cognizant and Williams Lea, occupying their space. The tech park, with a total investment of Rs 45 crore will house a few more companies and will commence full-fledged operation soon.

Located in the CSEZ, Technopolis has a total built-up area of 355,000 square. Jurong Infrastructure (India), a wholly owned subsidiary of JTC Corporation, Singapore, has designed the park.

He said that the seven-storied park would provide jobs to at least 8,000 IT professionals and could generate an export revenue of Rs 1,500 crore by the fifth year of operation. IT giants like Wipro and Sutherland have already commenced operation in the park.