Lulu Group to invest Rs 2,400 crore to develop IT sector in Kerala
As part of its efforts to promote the IT sector in Kerala, the Abu Dhabi-based Lulu group will invest Rs 2400 crore to develop 50 lakh sq feet of IT space in Kochi. The group chairman M AYusuff Ali said its second tower in Infopark Kochi will be thrown open to the IT companies from Saturday. The 15 lakh sq ft building constructed at a cost of Rs 400 crore will be inaugurated by Kerala chief minister Pinarayi Vijayan. "We have leased out 40% of the space in the new IT tower. We are in the final stages of discussion with two big IT companies of the US," Ali said. The building has 19 floors with ten floors of IT space and is expected to create job opportunities for 11,000 IT professionals. Two other major IT buildings are being constructed at SmartCity Kochi with a total space of 35 lakh sq ft. It will be completed in next two years.
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