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Taurus to invest Rs. 1,200 cr in Technopark

The Hindu BusinessLine:  March, 2014

Thiruvananthapuram: Taurus Investment Holdings, LLC, a global PE investment and development firm specialising in business infrastructure, has announced investments of Rs. 1,200 crore in Technopark, Thiruvananthapuram.

This is part of proposed Rs. 3,000-crore to be invested in developed assets for the country as a whole over next five years, says Ajay Prasad, Managing Director, India, Taurus Investment Holdings.

First investment

Taurus and partners have chosen Thiruvananthapuram for their first investment in the country, the Taurus Downtown Technopark.

A full-owned subsidiary, Taurus Development Advisory, has been registered, making Taurus the first global PE firm to base itself here, Prasad said.

Taurus Downtown Technopark is proposed to be developed within Technopark Phase III in a public private partnership with Technopark. Taurus expects receive final approval for the development of the project and plans to commence development within six to eight months of the same.

World-class space

Taurus Downtown Technopark is expected to generate over 25,000 direct and 75,000 indirect employment opportunities, with Phase I expected to become operational in 2016.

The project envisages a world-class, mixed-use development spread over 35 lakh sq ft, comprising 25 lakh sq ft of IT office space and 10 lakh sq ft of IT supporting infrastructure. The IT office space will be predominantly located within the IT SEZ being developed by Technopark.

The project will involve an investment of Rs. 1,200 crore in two to three phases, making it the single largest foreign direct investment into Kerala by a US or European firm, Prasaid pointed out. It will provide much-needed social infrastructure at Technopark, a perennial demand raised by IT companies since its inception.

Downtown Technoparrk is expected to attract the best companies and employees and improve quality of life of the employees in Technopark and people living around it.

Hilton International has been signed up to operate the first of two business class hotels at Downtown Technopark, Prasad said.

Taurus plans to establish world-class ‘co-working spaces’ for small firms and entrepreneurs to complement what Prasad described as commendable work done in-house incubator at Technopark.

It will also explore additional investments in Kerala, including signature projects such as proposed Knowledge City and other knowledge-related projects of the State Government.