Thiruvananthapuram: Kerala Chief Minister Pinarayi Vijayan has inaugurated the Taurus Technopark Downtown project in which US real estate major Taurus Investment Holdings will invest Rs 1,500 crore.

The IT township, which will come up on the Phase 3 area of Technopark, will be the first Indian project of Taurus. The proposal in this regard had come up in the 2012 Emerging Kerala gathering.

IT firms will start functioning at the township from May 2019. Vijayan said 30,000 people would be directly employed.

The government cleared the project last week through a single-window facility. Taurus officials told Manorama News that talks with major IT firms are in the final stages.

Taurus has been provided with 20 acres for the project. Apart from IT offices, the area will have a shopping mall, 15 multiplex theatres, hotel, and service apartments.

The Indian firm Embassy is a partner in the project, which will have a focus on eco-friendly buildings.

The project includes co-working facility, which helps small companies to work around a table. This will be organised with the international agency 'We Work.'

The temporary buildings will be completed within six months and transferred to IT companies.

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