Thiruvananthapuram, Sep 13 (IANS) Tata Consultancy Services (TCS) will set up a training centre at the proposed Technocity near the Technopark campus here.

Chief Minister V.S.Achuthanandan Monday said the cabinet has decided to allot 82 acres to TCS to set up the centre at an investment of Rs.1,500 crore.

"They will be setting up a training centre which will have the facility to train 15,000 professionals. Technopark officials will be coordinating with them for all the follow up action in this regard," said Achuthanandan.

Technocity is conceived as an integrated township under the public-private partnership model encompassing IT/ITES infrastructure, residential apartments, shopping malls, hospitals, hotels and educational facilities.

"Now that the Cabinet has cleared this, we will now ink the agreement with TCS and the main clause is that they should start construction in a year's time, failing which a penalty clause would apply," Technopark Chief Executive Mervin Alexander told IANS.

"The first phase of the centre would be operational in 18 months once TCS starts construction. When fully complete, they would have invested close to Rs.1,500 crore. They would purchase the 82 acres," he said.

As per the plan, the first phase of the Technocity project would be opened in July 2012. The entire project would be ready in seven years where a record one lakh jobs would be created.

Technopark has applied to the Japan International Cooperation Agency for a Rs.170 crore loan for developing the basic infrastructure in Technocity.