Forest City, one of the leading property development firms in the US, has offered to invest up to Rs. 10,000 Crore ($ 2.5 billion) in the IT/ITES and Biotechnology sectors in Trivandrum.
This was announced by Forest City Science & Technology Chairperson, Gayle Farris and Sun Group Chairman Nand Khemka when they met Chief Minister V.S Achuthanandan on Tuesday to brief him on the group's plans for Trivandrum. A consortium of the two companies has already launched a bid for the mammothRs 6000 Crore ($ 1.5 Billion) Technocity project.
Forest City has developed some of the most famous buildings in the US while Sun Group is one of the leading emerging market private equity firms in the world.
The consortium offered to develop a biotechnology park in Trivandrum and were interested in investing heavily in both projects. This could potentially be a major boost to the 250 acre Lifesciences Park being developed by KSIDC just 1 Km from the Technocity campus.