Calcutta, Aug. 23: Singapore-based Ascendas will start work on the first phase of the Rs 400-crore International Tech Park (ITPK) at Rajarhat from January.

Ascendas develops, manages and markets IT parks with hi-tech facilities. It has a presence in India, China and South Korea.

The project, to be built in four phases over a 20-acre plot, will have a built-up space of 2 million sq ft. The first phase will create 500,000 sq ft of office space and is likely to be completed by the first quarter of 2007. “We are already present in three cities and are one of the few developers with an established south India portfolio,” said Chong Siak Ching, president and CEO.

The company is developing hi-tech parks in Bangalore, Chennai and Hyderabad.