Nabard aid for new IT complex at Kochi

THIRUVANANTHAPURAM, INDIA: A new IT complex, which will spread across a total area of 4.27 lakh sq ft will get financial assistance to the tune of Rs 50 crore.

The project, being implemented by the Department of IT, Kerala, will take shape at the Inforpark campus at Kakkanad in Kochi. According to National Bank for Agriculture and Rural Development (Nabard) officials, the assistance is part of its Rural Infrastructure Development Fund (RIDF) loan. It is expected that there will be minimum contribution of Rs 60 crore to the nation exchequer when the project is ready for operations.

As any as 50 large, medium and small information technology companies are expected to set up shop at the facility. It is also expected that about 5000 IT professionals will get employment. A major chunk of employment generated would benefit the qualified youth in Information and Technology Sector from rural and semi urban centres all over the state. Besides, about 300 local people are likely to be employed for service related work in and around the project. Nabard had included IT as an eligible activity under the RIDF.

The proposed IT complex is part of the 144 projects being undertaken by the Kerala government. Nabard has sanctioned an amount of Rs 82.25 crore from its RIDF.