Curation Team
KOCHI: The proposed Infopark Phase III campus, which is expected to attract an investment of Rs 25,000 crore, will be ready by 2030, said authorities.
In a joint news conference on Tuesday, Infopark CEO Susanth Kurunthil and Greater Cochin Development Authority (GCDA) chairman K Chandran Pillai informed that govt would issue a notification regarding the pooling of 300 acres of land in Kizhakkambalam panchayat within weeks and the project master plan is expected to be ready in one year.
They informed that the new campus, which would be developed as a world-class ‘Integrated AI Township‘, was expected to generate 2 lakh direct employment and more than 4 lakh indirect employment. The project will impart fresh momentum to Kerala‘s development journey and transform the state into a knowledge economy.
The Phase III project is being implemented jointly by GCDA and Infopark and both signed a memorandum of understanding (MoU) in the presence of chief minister Pinarayi Vijayan on Monday.
The MoU gives GCDA the responsibility of identifying suitable land for Infopark Phase III through land-pooling, said authorities. Infopark will develop the infrastructure to turn the site into an integrated AI township to host high-tech companies and serve as a sustainable residential area.
As per the MoU, feasibility studies, stakeholder consultations, preliminary surveys, master planning and preparation of a detailed project report will be conducted. GCDA will lead the land-pooling process but the project ownership will remain with Infopark. After completing the land-pooling procedures, GCDA and Infopark will jointly submit a detailed report to govt in a year.
Infopark will take up the space master planning, attracting IT/ITeS companies, investments, marketing and the like. Infopark will pay the cost of land-pooling and other related facilities to GCDA.
Besides IT buildings, Phase III will feature residential facilities, educational institutions, sports and cultural facilities, shopping malls featuring Indian and foreign brands, an amphitheatre, a hospital, a multi-storey parking system, lakes and open spaces. As per the provisions of Kerala land pooling rules, the project can proceed only after obtaining consent from 75% of owners of the proposed land. GCDA has initiated steps to discuss with landowners and explain to them the benefits of the land pooling model.
Kurunthil said the township would serve as an ‘urban city brain’, being a centralised digital platform that would coordinate all city activities to anticipate and solve problems through real-time data analysis. The potential of AI will be leveraged in all sectors such as residential, commercial, retail, healthcare, education and agriculture.
