VS Achuthanandan alleges norm violations ahead of inking Taurus deal

THIRUVANANTHAPURAM: With a day left for inking the deal for the much-hyped Taurus Downtown Technopark project, Opposition leader V. S. Achuthanandan has demanded the government to make public the framework agreement to be signed.

Technopark authorities are scheduled to sign the agreement for the Rs 1200 crore project with the US-based project investors Taurus on Wednesday.

The project coming up on the Technopark Phase-III campus comprises 1.8 million square feet of built-up space in 10 acres of the special economic zone (SEZ) area in the first phase.

It envisages malls, hotels, multiplexes and convention facilities in 9.73 acres of non-SEZ area in the second phase. The first phase is expected to be commissioned by 2018 and the second phase by 2020.

Mr Achuthanandan alleged that the government was leasing out 19.73 acres for 90 years by violating the norms that 70 percent of the land being allotted in Technopark should be used for IT purposes.

The details of the shareholders of the Indian subsidiary of Taurus formed for the project should also be made public, he demanded.

He alleged that the Swiss Challenge model adopted for the project by evading standard tender process also amounted to suspicions.