SmartCity Kochi project gets a new lease of life

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Tvm: Five years after the project was launched and three years after the foundation stone was laid, the revival of the proposed Rs.1,500 crore SmartCity Kochi project was scripted today when Kerala Government, representatives from Dubai Government and the promoters Tecom met in Trivandrum.

The Cabinet has also approved the revival agreement as per today’s meeting. Briefing the media, Chief Minister Shri V S Achuthanandan said, “All the hurdles of the SmartCity Kochi project have been removed. The project will start at the earliest at its original location.” 

The UAE delegation was led by Ahmad Humaid Al Tayer, Member Supreme Council for Dubai World Group & Dubai Holding Group, UAE and Abdul Latif Al Mulla, Group CEO, Tecom. Commenting on the talks, Al Tayer said, “We are confident that the project will take place as soon as possible. We are going ahead with this project. The SmartCity Board will decide on the revision of investment in the project, if any.”

According to the discussions held today, the 12 percent of freehold land, which was the contentious issue, would be within the special economic zone. The freehold area would come to about 29.5 acres of total 246 acres earmarked for the project. The balance will be given to the promoter on lease for 99 years. The master plan for the project is to be completed within a month and the freehold transferred to the company on preparation of the plan. The government has also decided to waive off the stamp duty for registration of the deed.

P Prabakaran IAS, Chief Secretary; Ms. Sheela Thomas IAS; Suresh Kumar IAS, IT Secretary; Mervin Alexander, CEO, Technopark, Binu Pazhoor, CEO, Infopark and M A Yusuf Ali were among those present in today’s meeting.

Anil Philip
Kerala IT News

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