Information Technology Park Ltd (ITPL) is stepping up the development of its India flagship property, International Tech Park Bangalore, with the new US$ 15 million building -'Inventor'.
Scheduled to be ready for occupancy by December 2004, 'Inventor' will be the fifth building at the International Tech Park, Bangalore, adding on to the existing - Discoverer, Innovator, Creator and Explorer buildings.
Mr. Lee Hsien Loong - Honourable Deputy Prime Minister of the Republic of Singapore, Shri S M Krishna - Honourable Chief Minister of Karnataka and Mr. D B Inamdar - Honourable Minister for Information Technology and Biotechnology, Govt. of Karnataka, graced the 'First Pour' of concrete ceremony for the 'Inventor' building today to officially commence construction.
Mr. Ratan N. Tata - Chairman of Information Technology Park Ltd (ITPL), Mr. Lew Syn Pau - Chairman of Ascendas Pte. Ltd. and Ms. Chong Siak Ching - President & CEO of Ascendas Pte. Ltd. and Chairperson, Executive Committee, ITPL, were among the other dignitaries who attended the event.
'Inventor' is part of the Phase 1C development of the International Tech Park. The structure will be constructed as a multi-tenanted 9-storey (ground + 8 floors) building and will be fully-equipped with all value-added facilities available in the Park, including the wi-fi facility. 'Inventor' will have a built-up area of about 280,000 sq. ft. and a typical floor plate of appx. 31,000 sq. ft., increasing the Park's total built-up area close to 2 million sq ft on completion.
Ms Chong Siak Ching - President & CEO, Ascendas Pte. Ltd and Chairperson, Executive Committee, ITPL said, "Today we celebrate another milestone achievement, the 'First Pour' of Concrete for the Inventor building. It is the latest testimony to the most successful collaboration in Bangalore, and to the strong support from all the customers who have given their vote to the International Tech Park as their business location in India."
She added, "We will continue to enhance the overall environment to add greater value to our customers."
Mr. Ratan N Tata - Chairman, ITPL, in his welcome address said, "ITPL has pioneered the 'work, live & play' culture with its integrated facilities and hi-tech infrastructure, to add value for customers and also become a role model for other IT Parks in the country. Around 40% of the Park's development has been completed with a built-up area of 1.6 million sq. ft. today. Our masterplan envisages development of 5 million sq ft. of built-up area in the next 8- 10 years."
The International Tech Park Bangalore is a global technology hub currently housing 106 companies employing around 12,000 people. Some of the ITPL's prominent tenants include global majors - AOL Member Services, 24/7 Customer, Deutsche Networks Services, General Motors India, IBM Global Services, Infineon Technologies, Novozymes South Asia, Sanyo LSI Technology India, SG Software Asia, Tata Consultancy Services among others.
Speaking on the occasion of the 'First Pour' of Concrete for the Inventor building, Mr. Lee Hsien Loong - Deputy Prime Minister of Singapore said, "The Park has come to epitomise the strong bilateral relationship between India and Singapore. It reflects our strong mutual commitment to foster trade, commercial, people and cultural exchanges. It represents a tangible and concrete symbol of our larger concerted effort to partner each other in promoting technology-driven industries, and pursuing economic development."
He added, "The experience of International Tech Park Bangalore offers a valuable lesson to all Singapore investors - that when exploring a new market, we must expect glitches and difficulties, especially in the beginning. Venturing abroad is never meant to be easy. We need to learn how to operate in a different culture and a different business environment. But over time, with good business judgement and perseverance, we can succeed. In so doing, we will bring growth to our host country, and at the same time grow the external wing of the Singapore economy."
Shri S M Krishna - Chief Minister of Karnataka in his ceremonial address said, "International Tech Park has been a catalyst for the progress of the IT sector in Karnataka and has helped in attracting many companies to invest in Bangalore.
He further added, "The Government of Karnataka will continue its effort to provide high standards of infrastructure, which will help retain Karnataka's status as an investor-friendly State."
As part of its development, the International Tech Park also offers Build-to-Suit (BTS) facilities, enabling customers to enjoy the benefits of off-balance sheet financing and free up valuable resources to focus on their business operations. Each BTS facility offers a minimum built-up area of about 100,000 sq ft. that can be designed and customized to the occupant's needs, which can be ready within 12 months. It can be made available to a single occupant company with building naming rights and the option for lease or sale.
