TCS signs MoU with Kerala to invest Rs 690 crores

Kochi: The biggest IT company of India, Tata Consultancy Services, has signed a Memorandum of Understanding with KINFRA, Kochi for an investment of Rs. 690 crores.

The Innovation Park of TCS coming up in Kochi has 16 lakh sq.ft. area. KINFRA MD Santhosh Koshy Thomas signed the MoU with TCS Kerala Vice-President Dinesh P Thambi in the presence of chief minister Pinarayi Vijayan and industries minister P Rajeeve on Friday. The MoU delivers 36.84 acres of land for setting up units in the electronic hardware and the IT/ITES industry. Dr K Ellangovan IAS, Principal Secretary to the Department of Industries was also present. 

TCS has earmarked Rs 440 crores for the development of the IT complex and another Rs 250 crores for further developments.

The first phase is expected to start functioning in 2023-24. When fully set up, the new project is expected to generate around 10,000 jobs.

This is the second company which is inking a MoU with the government. Leading design and technology services provider Tata Elxi had earlier signed an agreement worth Rs. 75 crores.