Ascendas to develop new 400 crore IT Park in Kolkata

KOLKATA: Business space provider, Ascendas is planning to develop 20-acre International Tech Park, Kolkata (ITPK) in Rajarhat, New Town Kolkata.

When fully completed, it will provide 2 million sq ft of business space for IT and software development operations. The 400-Crore ITPK will be located within a 10,000-acre development site in Rajarhat marked out by the government of West Bengal for a new integrated township.

Development of ITPK will be in four phases. The construction of first phase to create 500,000 sq ft of Grade A space will commence in January 2006, with completion expected in early 2007.

ITPK will add to the stable of top-line International Tech Parks (ITPs) that Ascendas plans to build in key cities across India. This premium project in Kolkata will follow on the success of the iconic International Tech Park, Bangalore (ITPB), which opened in 1998, and the International Tech Park, Chennai (ITPC), whose Phase 1 building is being completed.

At the new Ascendas Kolkata flagship, amenities will include cafes, supermarket, food court, health club, medical clinic, travel agency, laundrette, gift shop, bookshop and autobanking - ensconced amidst a lushly landscaped environment. ITPK will also be the first International Tech Park to provide a childcare crèche catering to the needs of working parents in the park.

Harminder Singh, Ascendas' Head of North India operations said "We are confident that ITPK, with its cutting-edge architecture and unrivalled offerings, will raise the bar for quality business space in West Bengal."

Chong Siak Ching, President and CEO of parent company Ascendas Pte Ltd, said, "Ascendas has been in India for more than 10 years since the inception of International Tech Park, Bangalore. We intend to capitalize on that lead in the market and expand faster in India. By end 2005, we will be managing 4 million sq ft of space in India and we hope to double that in the next two years."