Tecom signs new lease agreement for SmartCity Kochi

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Kochi: The much awaited SmartCity Kochi project took a step forward with the signing of a new lease agreement at the Board of Directors meeting held today in Kochi. The registration of land for the proposed Rs.1,500 crore project also took place today at the Sub Registrar Office at Trikkakara, near 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. The revised norms and clauses that paved the way for the resolution of the dispute have been incorporated in the deed. There are 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.

Briefing the media, Fisheries Minister S Sarma, who is also the Chairman of the SmartCity Kochi Board, said, “The construction work will begin soon after getting the SEZ approval. The SEZ notification for the remaining portion is expected in three weeks.” As per the revised agreement, the State Government has waved off the registration and stamp duty fees.

A preliminary master plan for the project was also presented by Tecom today. It was decided to present a detailed master plan at the next Board of Directors meeting. This was the first Board meeting after the revival of the project earlier this month. Fareed Abdul Rehman, CEO of SmartCity who had been representing Tecom all these years was conspicuous by his absence in today’s meeting.

Kerala IT News

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