Kochi: A meeting of the Board of Directors of the SmartCity Kochi project will be held today at the Infopark in Kochi. The signing of the lease deed and the registration of land for the proposed project is expected to take place at the Sub Registrar Office at Trikkakara.
This will be the first Board meeting after the revival of the project earlier this month. This would give the much needed momentum to the delayed project.
This meeting was initially to be held on February 16, 2011 but was postponed as Abdullatif AlMulla, Group CEO of Tecom Investments, had a last minute change of plan owing to personal reasons.
The Board Meeting will discuss the steps required to keep the operations moving forward and will also decide on the resource allocation and appointment of the key personnel. In a statement, AlMulla had earlier said, “Our immediate priority is to sign the lease agreement to secure the designated land for the project which will lead to the mission critical SEZ notification of the land. We are in the process of finalising the documentation for land registration as well as putting a process in place for the master plan work to commence”.
Tecom has approved the lease deed which was cleared by the State Law Ministry before sending to them. The revised norms and clauses that paved the way for the resolution of the dispute have been incorporated in the deed. There will be two lease deeds, one for the SEZ area and the other for the area for which Special Economic Zone (SEZ) approval has to be obtained. The construction work will start only after getting SEZ approval. As per the revised agreement, the State Government will wave off the registration and stamp duty fees.
This will be the 24th meeting of the Board of Directors of the SmartCity Kochi project ever since its launch years back. The Board meets once every three months as required under the statutory requirements of the Companies Act.
Kerala IT News
(Last updated Feb 23, 2011)