THIRUVANANTHAPURAM: Construction of Space Park project in the capital is likely to begin in May. The financial evaluation of three companies was opened on Saturday and it is set to be approved next week. The technical evaluation was completed last week.
CEO of K-Space Park G Levin told TOI that the lowest bidder will be selected from the financial bids. We will mostly finalize the bidder in Jan last week. The work order is expected to be issued in April,” he said.
The project was granted a Rs 241 crore loan from Nabard for the construction of the buildings and the campus. The tender was called by the Kerala State IT Infrastructure Ltd to construct two key buildings—the Common Facility Centre and the Research and Development Centre. The new facilities will be built on 3.5 acres of the 18.5 acres allotted by the state govt in Technopark Phase IV at Pallippuram.
Currently, the Space Park office operates from a rented building in Pattom. The R&D facility will feature startup incubators and other research amenities.
The proposed park aims to attract global startups in the space sector, becoming a major manufacturing hub for space-related technology, research, and development.
The park will focus on four verticals: launch vehicle manufacturing, satellites, ground segments (including radar and antennas) and satellite data applications involving satellite communication.
