Downtown Technopark project – Agreement Signing on Wednesday

TechnoparkToday.com(Sept, 2015)>>  Technopark will sign a framework agreement with Boston-based Taurus Investment Holdings on September 30 to set up Rs 1,500-crore Downtown Technopark project.  An agreement will be signed between Technopark, Taurus Investment Holdings (TIH) and THR India Venture in the presence of chief minister Oommen Chandy, industries and IT minister P K Kunjalikutty and other ministers.

This signing will be a major turning point in the development of Technopark as TIH is planning to build 1 million sq ft built-up space for its SEZ component and 3-5 lakh sq ft built-up space for the non-SEZ component, which includes a retail mall and key hotels, in the first phase.

The project will take off by March 2016.  As per the agreement, TIH will complete office space, retail component and hotel in the first phase in 38 months and the office space and hotels in second phase will be completed 72 months.

Taurus’s Downtown Technopark will be the first major project proposed during Emerging Kerala 2012 to become a reality.

Taurus was finalized through Swiss Challenge bid, a method wherein the original bid can be challenged by competitors. In the Technopark Downtown project, the original bid submitted by Taurus was not challenged, making it the successful bidder.