The Rs 1,500 crore 'Smart City' knowledge hub which will be set up
here is expected to generate nearly one lakh jobs in the Information
Technology (IT) sector, Kerala Chief Minister said.
Mr Achuthanandan in his speech read out by Smart City Executive Director
Farid Abdul Rahman, who formally unveiled the foundation stone
for the project, said the joint sector project in which the state government
will have a 26 per cent stake, will create 90,000 employments in the IT
and IT enabled services (ITeS) sectors.
Pointing out that other companies had also shown keen interest
in starting similar projects in Kerala, the Chief Minister said
the LDF government was committed to turning the state into a hub
of knowledge-based industries.
The state government is leasing 246 acre of land for 99 years for
the Smart City project for Rs 104 crore. The project, the first major FDI
in the IT sector in Kerala, would be spread over 8.8 million square feet built up
area, of which 70 per cent would be for IT and ITeS.
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