India’s biggest IT service provider company, Tata Consultancy Services (TCS), has signed an MoU with Kerala Government to set up a ‘TCS Innovation Park‘ in KINFRA Electronics Manufacturing Cluster at Kakkanad, Kochi.
The IT major has agreed to invest Rs 690 crore. The new project is expected to create 10,000 jobs when fully operational.
The total built-up area of the proposed project is 16 lakh sq. ft. While Rs 440 crore will be invested by TCS for the built-up area including the land, another Rs 250 crore has been earmarked for plant and machinery.
A Memorandum of Understanding (MoU) in this regard was signed here on Friday in the presence of Chief Minister Pinarayi Vijayan and Industries Minister P Rajeev, an official statement said.
KINFRA Managing Director Santhosh Koshy Thomas and TCS Kerala Vice President Dinesh P Thampi signed the MoU.
TCS Ltd intends to operate a campus for Electronics Hardware & IT / ITES in an area of 36.84 acres of land in KINFRA Electronics Manufacturing Cluster, Kakkanad, with an investment of Rs 698 crore and would accommodate nearly 10,000 employees in a phased manner, the release said.
The first phase is expected to commence operations in the financial year 2023-24, the statement said.
While Rs 440 crore will be invested for building the IT complex, Rs 250 crore will be allocated for related developments, official sources said.
The second phase of campus development will be planned later, sources said. With PTI Inputs