The Centre has granted formal approval for 25 acres of Cyberpark at Kozhikode to be known as IT/ITeS special economic zone.
The decision was taken at a meeting of the Board of Approvals held at New Delhi.
The state IT department enters the Malabar region with the setting up of the Cyberpark Kozhikode, which is being developed as an eco-friendly IT park based on a hub & spoke model.
The park is being developed in 43 acres of land and will provide SEZ and non SEZ space for both clients serving the domestic and international markets.
Cyberpark has handed over 25.11 acres to the Uralungal Labour Contract Co-operative Society to develop UL Cyberpark -- promoted by a co-operative society and owned and operated by 2,000 labourers.
The SEZ notification for this park was awarded in December 2009.
An IT building of a total built up area of 3.1 million sft will be developed in two phases.
The first phase, which is expected to be operational from early 2011, will have a total built up area of 1.4 million square feet.
When both the phases are completed, it can provide direct employment to 20,000 IT/ITeS professionals.
The estimated cost of the project is Rs 600 crore (Rs 6 billion).