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Bangalore , Aug. 23

ASCENDAS, a business space provider, said on Tuesday that it was developing a Rs 400-crore International Technology Park in Kolkata.

Spread over 20 acres, the International Technology Park - Kolkata (ITPK) will come up at Rajarhat, New Town Kolkata, said an Ascendas press release.

Once fully completed, ITPK will provide two million sq. ft of fully developed business space for IT and software development operations, it said.

ITPK is being developed in four phases with the construction of Phase I set to commence in January 2006 and be completed in early 2007.

Mr Harminder Singh, Ascendas' head of North India operations, said "Kolkata presents tremendous potential as an upcoming IT and ITES destination.

"It also offers lower operational costs compared to other metros."

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