UDF Government to review LDF’s SmartCity Kochi agreement

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Kochi: Shri Oommen Chandy, who took over as the new Chief Minister of Kerala last week, today said that the UDF government will implement the SmartCity Kochi project on a priority basis after sorting out few issues in the agreement, the previous government had with Tecom, which are against the State’s interest.

Interacting with the media, the CM said, “There are some issues which are against the interests of the state in the agreement the LDF government had with Tecom, the Dubai based promoters of the proposed Rs.1,500 crore SmartCity Kochi project. The government will review and take steps to change the agreement but the project will not be delayed. We do not want to delay the project even by a day”.

It was on February 23, 2011 that the new lease agreement for the SmartCity Kochi project was signed at the Board of Directors meeting held in Kochi. The lease deed for 246 acres was signed between Abdullatif AlMulla, Group CEO of Tecom Investments and K Suresh Kumar IAS, IT Secretary, Government of Kerala. This was necessitated as the earlier lease agreement had expired when the project was stuck in a deadlock for over five years.

The construction work was to begin soon after getting the SEZ approval but the SEZ notification was held up as the Model Code of Conduct for the State Elections came into place by then. The Board of The Board of Approval (BoA) of the Central Government on Special Economic Zone (SEZ) is expected to meet on May 31, 2011. The BoA had earlier issued a notification granting SEZ status for the 132 acres of land for the SmartCity Kochi project but the approval for the remaining 114 acres is now pending.

Kerala IT News

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