Friday, Apr 29, 2005
Friday, Apr 29, 2005 |
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Staff Reporter
Serious business: Deepti Khosla, Business Development Manager, Deepak Padmanabhan, Chief, Planning and Business Development, Baju George, Senior Manager, Real Estate and Property of the Internet Smart City, negotiating issues related to a proposal t o set up a Smart City on the outskirts of Kochi, on Thursday. Photo: Mahesh Harilal
KOCHI: The State Government and the Dubai Internet City (DIC) reached an agreement here on Thursday to set up an information technology city — Smart City, on the outskirts of Kochi on 389 acres of land identified by the Government. The Chief Secretary, Palat Mohandas, said here that the agreement was "on the whole acceptable," but refused to divulge the details regarding how contentious issues, such as the DIC's demand for cheap electricity to the proposed city and subsidised land were settled.
MoU to be signed soon
A memorandum of understanding would be signed by the State and the DIC soon, probably in May in Dubai. The document would then go to the State Cabinet for perusal and approval. Mr. Mohandas said that starting work on the Smart City project, involving an expected investment of Rs. 1,500 crores, would depend on how fast the State handed over the land to DIC.
Discussion continue
The discussions began on Wednesday, but on that day, it failed to reach a breakthrough. The agreement was thrashed out at the end of discussions on Thursday after protracted negotiations. The DIC team, led by Deepak Padmanabhan, chief, Planning and Business Development, was closeted with the State Government team late into the evening.
The State team was led by Mr. Mohandas. The Information Technology Secretary, P.H. Kurien, the Principal Finance Secretary, Jose Cyriac, and Girish Babu, Chief Executive Officer of InfoPark, participated in Thursday's discussions.
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