The investments in Edu City, which is coming up in Malappuram, is expected to touch around Rs.2,000 crore within five years, said T Balakrishnan, managing director of INKEL Limited.
Balakrishnan was speaking to reporters in Thrissur after an interactive session for prospective investors.
Balakrishnan said the developers who plan to invest in the proposed project will be given land on 85 years lease. “It will be given for 30 years lease initially and later renewed for the remaining 55 years after examining whether the developer followed the rules in utilizing the land properly”, he said.
Edu City is coming up on 243 acres land at Karathode in Panakkad, Malappuram, and will become full-fledged by 2015. Of the 243 acres, 75 acres have already been allotted for setting up the English and Foreign Language University. The projects envisaged in the Edu City are International School, Institute of Technical Education, Institute of Engineering and Technology, International Business School, School of Science, School of Commerce, Media School, School of Law and Finishing School.
We have invited Expression of Interest (EOI) from reputed education service providers for developing projects on 168 acres of land and EOI will be opened on February 28, Balakrishnan said.
Balakrishnan ruled out the allegations raised over selecting Malappuram for Edu City. He said the last LDF government was given 250 acres land. There is road, rail and air connectivity to the place and Malappuram town is on a fast track of development.
Interactive session for investors completed in Thrissur, Kannur and Palakkad districts and it will be conducted in Malappuram and Kozhikode in the coming days.
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