Sobha to sign MoU with Kerala govt
Sobha Developers Ltd will sign a memorandum of understanding with the government of Kerala for setting up the largest township in the state, Sobha Hitech City.
By INDIATIMES NEWS NETWORK |
MUMBAI: Sobha Developers Ltd will sign a memorandum of understanding with the government of Kerala for setting up the largest township in the state, Sobha Hitech City on Monday.
The project will create an integrated city with a focus on research & development, knowledge dissemination, electronics, information technology and pure & applied sciences. It will involve an investment of Rs 5,000 crore.
The project will come up near Maradu in Kochi over a land area of around 400 acres, out of which around 320 acres have already been acquired. It will include a 7 million square feet knowledge park, shopping malls and avenues, hospitality projects, residential complexes and all related infrastructure, including a marina, creating substantial number of technology jobs, in addition to numerous non-technology jobs.
The government will provide a single window clearance for the project.
Infrastructure work will commence soon after the signing of the MoU. The project is expected to take 8 to 10 years for completion after receipt of necessary approvals.
At 10:05 am, shares of the company were up nearly 2 per cent on the NSE at Rs 796.
The project will create an integrated city with a focus on research & development, knowledge dissemination, electronics, information technology and pure & applied sciences. It will involve an investment of Rs 5,000 crore.
The project will come up near Maradu in Kochi over a land area of around 400 acres, out of which around 320 acres have already been acquired. It will include a 7 million square feet knowledge park, shopping malls and avenues, hospitality projects, residential complexes and all related infrastructure, including a marina, creating substantial number of technology jobs, in addition to numerous non-technology jobs.
The government will provide a single window clearance for the project.
Infrastructure work will commence soon after the signing of the MoU. The project is expected to take 8 to 10 years for completion after receipt of necessary approvals.
At 10:05 am, shares of the company were up nearly 2 per cent on the NSE at Rs 796.
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