Thiruvananthapuram: As the state's IT hub, Technopark celebrates its silver jubilee, Kerala Chief Minister Oommen Chandy on Wednesday announced a Rs.997.65 crore development project to assist it in infrastructure development, land acquisition, and marketing in the next five years.

Chandy made the announcement after inaugurating a function held at Technopark campus.

"The huge development scheme combined with the large scale investments will mark a big leap in Kerala's IT industry," he said.

He also said the proposed Rs.1,500 crore investment project by IT giant Taurus in Technopark's phase-III campus has been approved and construction activities would commence immediately.

The silver jubilee celebrations of Technopark come at a time when IT exports in Kerala for the last fiscal touched Rs.10,000 crore and the total direct employment in the IT industry has touched one lakh employees with 45,000 at Technopark, 25,000 at Kochi Infopark and the rest at various IT companies spread across the state.

Addressing the concerns raised by several stakeholders of Technopark, IT and Industries Minister P.K. Kunhalikkutty announced the decision to roll-back the rent hike in Technopark.

"Technopark's development model, which is the biggest and the brightest success story of Kerala, could be replicated in several other fields," he said.

At the function, Prathidwani, a forum of Technopark employees, handed over a letter of consent signed by 1,000 employees to Chandy for volunteering for organ donation.

"The forum began their campaign just few days back and the number of volunteers is expected to touch 3,000 in the next two days," said Technopark CEO K.G. Girish Babu.

(IANS)