Kerala Chief Minister Pinarayi Vijayan announced on Wednesday that a Letter of Intent (LoI) has been signed with UAE-based Al Marzooqi Holdings FZC for a foreign direct investment (FDI) of Rs 8.5 billion in the Meridian Tech Park project at Technopark Phase III in Thiruvananthapuram.

In a post on X, Mr Vijayan said that the upcoming project is designed to promote sustainability and collaboration, and is expected to create over 10,000 jobs. He described the development as a symbol of Kerala’s vertical growth and its expanding global footprint in technology and innovation.

“With this project, Kerala’s journey to become a global innovation hub takes a bold leap forward,” the Chief Minister wrote. Later, in a Facebook post, he added that the Meridian Tech Park will mark a new milestone in Kerala’s technological progress, while also playing a pivotal role in strengthening the state’s IT and employment landscape.

Mr Vijayan emphasised that the campus will be developed to ensure access to artificial intelligence (AI) tools and research even for smaller enterprises, supported by a dedicated AI laboratory within the facility.

The Meridian Tech Park project is expected to serve as a catalyst for Kerala’s continued evolution into a technology-driven, knowledge-based economy, reflecting the government’s focus on attracting global partnerships and high-value innovation-led investments.