During the ongoing Global Investor Meet (GIM), chairman of the Gulf-based Emkayee Group Yusuf Ali announced that his group in association with NRIs and West Asia nationals had proposed a Rs 500-crore fund for launching an all-compact IT complex called e-City. An investment company would be registered and funds would be collected for the project, Mr Yusuf Ali said.
A similar project, termed as an e-village, is part of the Rs 3,000-crore NeST group investment plans which are part of its vision for the next 15 years. Only a framework of the e-City project had been readied which would be based in Kochi, said Mr Ali. This was proposed taking into consideration the needs of Keralites, especially women going abroad.
Unlike Technopark, the project would be modelled on the lines of the Dubai Internet City where the group would have training centres and other facilities like backup office. There would also be residential areas and entertainment courts. It would be an ideal centre where buyers and sellers would be put up together. The project had been given a nod by the State government and the plan would be readied soon. It could come up in another three years on a 200-acre plot, said industry minister PK Kunhalikutty.
However, an MoU signed with the NeST group for projects worth Rs 3,000 crore on the same day includes a project under a plan called Technopolis which is worth Rs 250 crore and to be built on a 200-acre land.
Called e-village, the NeST project envisages a fully furnished, ready-to-occupy modules for call centre, business process outsourcing operations, training academy, recreation, residential accommodation, etc similar to the e-City project.
While Mr Yusuf Ali did not comment on the NeST project, NeST group chairman Javad Hasan told The Financial Express that his was an independent project and was not aware of a similar project coming up at GIM. The investment was half compared to the other project.
Having the technology and with his group already into business and having recently started a call centre, the first in the State, the Nest group was confident of going ahead with its project successfully.