ITPL stage 2 flagged off

By : |November 29, 2000 0

BANGALORE: Singapore Minister for Trade and Industry, Brigadier General
George Yeo and S M Krishna, Chief Minister of Karnataka, officially launched
stage 2 of the International Tech Park, Bangalore (ITPB) today.

The total investment in stage 2 of the project is estimated at about Rs 160
crore. The park is a joint venture between Tata Industries, a Singapore
consortium led by JTC International and the Karnataka government represented by
the Karnataka Industrial Areas Development Board.

Stage 2 will comprise one tower offering multi-tenant facilities, similar to
the existing Innovator block, and another block offering build-to-suit (BTS)
facility. There will be 3 blocks of BTS, each up to five storey high with a
total area of 100,000 sq. ft. Under this scheme, clients would be able to
customize their offices as per their requirements. BTS will be available for
single occupancy with the privilege of naming rights for the building. Tenants
can take up space on lease or lease with purchase option.

                                 

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Speaking on the occasion, Karnataka Chief Minister SM Krishna said,
"Today, the International Tech Park, Bangalore, sets the standard for other
parks coming up in India. Its facilities are comparable with some of the best in
Asia. Stage 2 will see a significant increase in the number and types of
businesses taking up space here. The Karnataka government is planning to set up
an Institute of Bio-Informatics with ICICI at ITPL."

At the groundbreaking ceremony, George Yeo spoke about the progress made by
the two nations in strengthening trade ties and bilateral relationships.
"Because of the IT talent in Bangalore, it has become a preferred IT
investment destination in India," he added.

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