Kerala CM inaugurates global investor Taurus projects offer 50, 000 jobs

Thiruvananthapuram: Global investor Taurus launched a Rs 2,000-crore project at Technopark Phase-III area. It is expected to generate 50,000 jobs within 10 years. 

Chief Minister Pinarayi Vijayan on Friday formally inaugurated the project ‘Taurus Down-town Trivandrum’ being built by Boston-based Taurus Investment Holdings, LLC (Taurus), global investor, developer, owner and operator. 

The first building of 65,000 sq-feet will be commissioned by 2019 and another one million sq-feet IT space and about 7.5 lakh sq-feet retail and entertainment infrastructure will be commissioned by 2020-21.

Taurus has already initiated talks with major technology firms on setting up office in Downtown and would finalise some deals within a few weeks.

Mr Vijayan said that the entry of global firms like Taurus, Nissan and Fijutsu reflects the changing perception about Kerala among the international investors. This was the result of the thrust being given by the state government on the development of IT sector to make the state a global IT hub. He hoped that that the state government would be able to cater to the skilled human resource requirement of the IT companies.

Technopark chief executive officer Hrishikesh Nair said that being a project with IT space, retail space, amenities and residential space, the Downtown would change the face of Technopark.

Taurus chairman Lorenz Reibling told reporters that it was the first project of the company in India and that Kerala was opted considering various factors like the government participation in the project. The project is being developed with the support of leading builder Embassy group. 

Taurus India managing-director Ajay Prasad said that the first building to be commissioned  by May 2019 would be constructed using pre-fabricated materials to be brought from Bangalore. It will be named Key Stone. 

"We are also holding talks with seven global firms and some Technopark firms and hope to finalise the terms within four weeks,” he said.

The Embassy Taurus Techzone will have 2.5 lakh office space in 10 acres of special economic zone and 0.3 million square feet office space in non- special economic zone space.

The Taurus Zentrum reatil space will be a multiplex with 15 screens and an Imax, which would be the first in the state. Asset Homes is setting up 315 serviced apartments.

Thiruvananthapuram MP Shashi Tharoor, Mayor V.K. Prasanth, IT secretary M. Sivasankar, Embassy Group chairman Jitu Virwani and Asset Homes managing director V. Sunil Kumar were also present at the function.