ITPL stage 2 flagged off

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.

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.