Kerala Govt. signed SmartCity deal
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The agreement was inked by Ahmad Bi Byat, executive chairman of Tecom Investment, and Lizzie Jacob, chief secretary of Kerala.
Smart City, to be set up in Kochi, is a joint venture company of Tecom Investments and Sama Dubai.
Top officials of DIC arrived in a charter flight around 1 p.m. and drove straight to the state-owned Mascot Hotel to sign the agreement. They will leave in the evening.
"This is a historic ceremony and a happy occasion for me. This has materialised after long discussions and would be mutually beneficial and economically a boost for Kerala. More importantly this would strengthen the relationship between Kerala and Middle East," said a beaming Achuthanandan.
The development is seen as a moral victory for Achuthanandan as he had earlier opposed the terms for the project worked out by the then Congress-led United Democratic Front (UDF) government.
The agreement with DIC does not include transfer of the Infopark campus at Kochi, which had been agreed upon by Chandy.
Dubai: Dubai's plan to develop SmartCity, a proposed high-tech cluster, in the south Indian state of Kerala will be implemented soon, after months of wrangling.
The Government of Kerala and SmartCity, a joint venture between Tecom Investments and Sama Dubai, yesterday signed the final agreements to establish SmartCity Kochi at a ceremony held in Thiruvananthapuram.
SmartCity Kochi will attract an investment of about $350 million.
It will have a built-up space of approximately 8.8 million square feet.
SmartCity Kochi will be one of India's largest business parks. Covering one million square metres, the project will create infrastructure and environment for knowledge-industry companies - primarily IT- and media-related firms. It is based on the successful models of Dubai Internet City and Dubai Media City.
The agreement was signed in the presence of V.S. Achuthanandan, the Chief Minister of Kerala, by Ahmad Bin Byat, executive chairman of Tecom Investments, and Lizzie Jacob, chief secretary of the Government of Kerala.
Also present were Farhan Faraidooni, executive chairman of Sama Dubai, Abdul Latif Al Mulla, chief executive of Tecom Investments and Fareed Abdul Rahman, executive director of SmartCity.
V.S. Achuthanandan said: "The SmartCity Kochi project comes at a time when Kerala is on the threshold of a new phase of knowledge-based economic development. Knowledge-based industries are increasingly driving the state's economic growth and we are committed to enhancing the conditions for this sector to grow."
Global network
Kochi will join Malta as the first two members of a global network of knowledge-based industry townships that Smart City seeks to create.
Bin Byat said: "The agreement we have reach-ed is a win-win situation for both of us and the Government of Kerala. It is a milestone deal filled with great promise. Partnering with the Government of Kerala and the industry, we will develop SmartCity Kochi into a new hub for excellence in knowledge-based industries.
"We look forward to working with all stakeholders to complete a successful project."
SmartCity Kochi will be the first Indian city that will form part of the global SmartCity network. It will leverage its relationship with clusters such as Dubai Internet City and Dubai Media City to raise the interest and secure the participation of IT and media brands.
Courtesy : Gulf News.com
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