TCS Will Hire 10,000 Employees In Kerala; Will Invest Rs 690 Crore
Tata Consultancy Services (TCS) will set up a ‘TCS Innovation Park‘ in KINFRA Electronics Manufacturing Cluster at Kakkanad, Kochi.
To that end, it signed an MoU (Memorandum of Understanding) with the Kerala Government.
Kinfra MD Santhosh Koshy Thomas and TCS Kerala vice president Dinesh P Thampi signed the MoU on Friday.
The signing took place in the presence of Chief Minister Pinarayi Vijayan and Industries Minister Rajeeve.
How Funds Will Be Used
The campus will be built in an area of 36.84 acres of land with an investment of Rs 690 crore.
Out of this, Rs 440 crore will go towards the built-up area including the land and construction.
Rs 250 crore will be used for plant and machinery and related developments.
The project is expected to create 10,000 jobs in the facility when fully operational.
10,000 people would be employed at the end of the five years from the commencement of commercial operations.
The first phase of operations is expected to start in the financial year 2023-24.
The second phase of campus development will be planned later.
This is the second major investment attracted by the Pinarayi 2.0 government.
Major Investments In Kerala Projects
Recently, Tata Elxsi, a leading design and technology service provider, signed an MoU with Kinfra to expand its facilities in Kerala, with an investment of Rs 75 crore in the first phase.
The Kerala government had earlier approved TCS to invest in Technocity, an upcoming technology park in Pallipuram, Thiruvananthapuram.
The facility is dedicated to TCS’s proposed investments in the fields of IoT, blockchain, AI, machine learning, and data analytics.
The tech giant is also planning to build an incubation centre for technology startups.