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ITPL's second phase to be finalised by middle of 2000

The International Tech Park Limited, joint venture of the Singapore Consortium, Tatas and the Karnataka government will finalise the construction of the second phase of the park by the middle of next year after reviewing it, according to ITPL Chairman Ko Kheng Hwa.

He was speaking to reporters in Bangalore on the occasion of signing of agreements with 18 new international and local companies who have taken up space in the first phase of the park.

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Ko said the consortium is fully satisfied with the progress made so far. He said about 65 per cent of the area in the park had been occupied. The second phase of the project would be reviewed once 85 per cent of the area is occupied.

Ko said among the notable global companies that have booked space now are Bos Callco, CDS International, Hitachi India Trading, Indian Institute of Information Technology, Nova Nordisk, Enzymes, Vap Corporation, Engineering Analysis Centre of Excellence, GE India Technology Centre, Cazenova India, Glaxo Wellcome, Huawei Technologies, Hindustan Lever, Tata Lucent, Integrated Information Systems and Foto India among others.

Replying to a question on whether the Southeast Asian financial crisis has any effect on the project, Ko said the project is a long-term infrastructure investment for the India based companies and is not for the Southeast Asian customers hence there is no impact.

Tech Park CEO Goh Kok Huat said the consortium is fully satisfied with the co-operation extended by the state government in all areas and there is no question of the joint venture partners quitting the project half way.

The Tech Park was set up at Whitefield, about 30 kilometres from Bangalore, to house all high-tech industries under the joint venture.

The Singapore Consortium and Tata Industries hold 47.28 per cent equity each and the Karnataka Industrial Area Development Board holds the balance 5.44 per cent on behalf of the state government.

The government had allotted 150 acres for the construction of the park.

UNI

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