LoI signed with UAE-based company to bring Rs 850 crore FDI to Technopark-III: Kerala CM

Kerala Chief Minister Pinarayi Vijayan on Wednesday said that a Letter of Intent (LoI) has been signed with a UAE-based company for an Rs 850 crore FDI in Technopark phase III here.

Vijayan in a post on 'X' said that the LoI was signed with UAE-based Al Marzooqi Holdings FZC for the Meridian Tech Park project.

He said that the project, which will come up in Technopark phase III, has been designed for sustainability and collaboration and will create over 10,000 jobs. It will be a symbol of Kerala's vertical growth and expanding global footprint, the CM said.


With this project, Kerala's journey to become a global innovation hub is taking "a bold leap forward", he added.

Later, in a Facebook post, the CM said that the project will be a new milestone in the state's technological advancement.

Besides boosting the IT sector of the state, the project will also bring about major changes in Kerala's employment sector, he said.

Vijayan said that the Meridian Tech Park campus will be set up in such a way that even small companies will be able to use the potential of artificial intelligence through the AI laboratory.