New Delhi: The proposed SmartCity Kochi project today got the Special Economic Zone (SEZ) status approval from the Board of Approval (BoA) under the Department of Commerce, Ministry of Commerce & Industry, Government of India, for 114 acres of land out of the total 246 acres. The Central Government had in March this year issued a notification granting SEZ status for 132 acres of land. The decision on approval for the remaining 114 acres was deferred that time keeping in mind the election model code of conduct.
The notification of the project as SEZ will be done once the requisite documents are submitted and the formalities completed. Today’s decision has also laid to rest apprehensions on whether the entire project site would be notified as a single SEZ as there was a water body separating the land.
According to SmartCity Kochi Officials, the single SEZ status will give an impetus to the preparation of a master plan as there is more clarity about the land. SmartCity Kochi has thus become the first to be granted a single SEZ status for land separated by a water body. Tecom, the promoters of SmartCity Kochi is expected to invest about Rs.2,000 crores on building the infrastructure.
The Board of Approval is a 19-member inter-ministerial body that deals with Special Economic Zone related matters in the country.
Kerala IT News