Lulu Group to invest Rs 350 crore at Kochi's Infopark

Kochi: The Lulu Group, headed by NRI businessman MA Yusuf Ali, plans to invest Rs 350 crore to further develop L&T Tech Park, which it recently acquired for Rs 150 crore at Kochi’s Infopark.

L&T has a four-lakh sq ft building, called Tejomaya, at its 7.44-acre campus in Infopark, a business park targeted at the IT industry. The Lulu Group has proposed to change the name of L&T Tech Park to Lulu Tech Park Ltd.

The project, on completion, is expected to create an additional employment of 13,000-15,000.

The Lulu Group plans to build another nine lakh sq ft of IT space at Infopark and will submit the proposal within a week to the environment ministry for clearance, Infopark Chief Executive Hrishikesh Nair said. Construction is expected to start by October next year with a target to complete the project in three years, he said.

The second phase of Infopark Kochi has been attracting major players. Already six companies have signed deals to develop IT campuses in the 160-acre IT park.