33.5 acres of Traco Cables to be handed over to Infopark

About 33.5 acres of Traco Cables, a State public sector unit under the Ministry of Industries at Irumpanam, will be handed over to Infopark as part of the development of its fourth phase.

In his statement, Industries Minister P. Rajeeve said that the decision to transfer the land was taken upon the request of Infopark. He added that the fourth phase will be implemented in the land near the Port-Airport Road.

A high-level committee was formed to determine the terms and conditions for the handover of the land. It was stated that in a meeting held by the Chief Minister, it was earlier decided to transfer the land to Infopark at a cost of ₹ 200 crore.

Mr Rajeeve said the money earned by transferring the land would be used for future development of Traco Cables. He said that debts to workers can be resolved in this way.