In what is billed as the biggest land deal in the history of Kerala's infotech sector, Tata Consultancy Services (TCS) Wednesday signed a lease deed for 82 acres of land worth Rs.1,500 crore here.
The company has paid Rs.75.25 crore as the initial down payment for the land in the Technocity project.
TCS will invest Rs.1,500 crore in the project coming up near the Technopark campus.
The deed was signed on behalf of TCS by S. Mahalingam, director and CFO, at a ceremony held at Park Centre, Technopark.
'Our global learning centre here will train and accommodate 15,000 employees at any point of time. We are planning an iconic and landmark campus in India with an estimated investment of Rs.1,500 crore,' said Mahalingam.
It was in September last year that Chief Minister V.S. Achuthanandan handed over the government order to the company sanctioning allotment of 82 acres of land.
'This is the biggest land deed signed and we are all thrilled on this development. The construction will start within 12 months and is expected to be completed in 48 months,' said Mervin Alexander, who heads the Technopark.
The TCS campus infrastructure will include classrooms, computer laboratories, a library, cafeteria, accommodation facilities as well as recreational and shopping areas.
The new campus will be a learning hub of the organization and will be connected with its other training facilities across the globe.
In 1994, TCS bought two acres of land to set up their corporate training facility and expanded it by acquiring 12 more acres at the Technopark campus.
In 2005, the company took another 26 acres of land for the construction of their development centre.