Kinfra, Creative Infocity sign MoU

THIRUVANATHAPURAM: Dr.Gopala Pillai, Managing Director of Kinfra and Mr.Anupam Saxena of Creative Infocity signed the MoU. I.T.Secretary, Mrs.Aruna Sundarajan, CEO Technopark, Mr.Mahalingam and Mr.Suresh Babu, General Manager, Kinfra were present.

Dr.Gopala Pillai informed after detailed discussions with them that a JVC will be formed within 90 days. He had requested the management of Creative Infocity to explore further establishing a knowledge city, which will be not just a real estate, but creating a society in itself. Mr.Anupam Saxena mentioned that their CEO Mr.Dilip Barot fro U.S.A. would visit us shortly and take it forward.

Initially Creative Infocity taking more than 76% equity in the company. Shri.P.K.Kunhalikutty, Minister for IT and Industry stated that this is a clear indication that the Govenrment is taking the right initiatives. He added that he met Mr.Dilip Barot along his team and he is glad that it has concluded with a positive frame of mind. Mr.Dilip, a NRI from Gujarat had personally expressed the delegation led by the honourable IT Minister that he sees value in Kerala and that Creative Infocity would like to partner with the Government led by Shri.A. K. Anthony and make Kerala a preferred knowledge destination.

Mrs.Aruna Sundarajan stated that the delegation led by the IT minister met Shri.Dilip Barot at TiE conference and this was subsequently followed by Mr.N.R.Mahalingam, then COO, Kerala State IT Mission. She further added that Creative Infocity is not a new player. They have already set up a similar park at Gujarat and their management will provide excellent marketing support as well bring in professional management. She is confident that we will see Kochi developing into a major BPO center of the country within a year or so. She plans to meet Mr.Dilip during his visit to India in May and discuss further on their investment plans.

Mr Mahalingam, who was pursuing investments in the state mentioned many leading real estate players had shown interest in the state. Last week, L&T Infocity team made a visit to Technopark and KEPIP, Kakkanad. Mr.Mahalingam opines that this decision of forming a JV will further lend credibility to the efforts the Government has taken. Though the Government equity will be initially restricted to 11%, Creative Infocity is flexible to offer higher stake as there is progress.

He opined Creative Infocity joining the Government of Kerala through a JVC with Kinfra will add further value and is hopeful that Creative Infocity may also undertake Phase II of Technopark expansion plans.