27th August 2019, Thimphu: Dasho Karma Yezer Raydi, CEO of Druk Holding & Investments, inaugurated the new building of Thimphu TechPark, named ‘Thimphu TechPark Block 2’ on 27th August 2019 over a traditional ceremony presided over by Trulku Jigme Tenzin Jamtsho from the Central Monastic Body.
In his keynote address, Dasho said that the inspiration for the construction of the new building was drawn from His Majesty the King after His Majesty’s visit to the Tech Park on 1st May 2017.
The new building will house the new Department of IT Services of Thimphu TechPark Ltd. and the Centre of Excellence for Information Technology being started in line with DHI Roadmap 2030, in addition to other FDI companies from Japan, Switzerland and Bangladesh.
The new building has a total built-up area of about 20,000 sq ft. This takes the total built-up area of Thimphu TechPark to 80,000 sq ft given that the first building which was built on a Public Private Partnership model in 2012 has a built up area of 60,000 sq ft.
Thimphu TechPark, Bhutan’s first IT Park is owned and operated by Thimphu TechPark Ltd., a 100% DHI owned company. The new building was built by Construction Development Corporation Limited at a total cost of Nu. 71.13 million. This was funded in the following manner:
Equity injection from DHI: Nu. 34.52 M
Loan to TTPL from NPPF: Nu. 30.08 M
TTPL’s own contribution: Nu. 6.53 M
Total cost: Nu. 71.13M
TTPL awarded a certificate of appreciation to CDCL for completing the construction within time and budget. CDLC engaged private contractors to undertake over 50% of the works under its supervision while the rest was done by CDCL by employing Bhutanese youth who have graduated from Technical Training Institutes within the country.
The new building construction was initiated under the guidance of Dasho Karma Yezer Raydi after His Majesty the King’s visit to Thimphu TechPark on 1st May 2017. The Salang Tendrel (ground breaking ceremony) for the new building was conducted on 20th December 2017. The building construction was completed in just 19 months.