Thursday, July 24, 2008

Forest City - Sun Group offers $ 2.5 billion investment in Trivandrum

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.


  1. I think they have offered investment Rs 10000 cr in the state not in Tvm alone.

  2. great news...

    the Technocity will also have biotech facilities in it, wont it? Good for the city. Lets hope it will materialize...:)

  3. @ Scorpio - Technocity is unlikely to have biotech facilities in it as it will be an IT/ITES SEZ. The Biotech facilities can come up at the neighbouring Life Sciences Park being developed by KSIDC.

    @ Alex - Forest City & Sun are interested in the Technocity project, specifically for which they had discussions with the Govt. So it is logical that they are focusing on Trivandrum. When one reads contemporary news reports, the media seems to have a tendency to replace "Trivandrum" with "Kerala" in the case of development news. So one sees "Infosys expanding Kerala operations" or "Lanco wins bid for port in Kerala." Wonder why it is so?


Thanks for your comment, I will take a look at it and put it up at the earliest.