Online edition of India's National Newspaper
Thursday, Feb 08, 2007
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Online edition of India's National Newspaper Thursday, Feb 08, 2007 ePaper |
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Special Correspondent
IT TALKS: Representatives of the Dubai Internet City holding talks with Chief Minister V.S. Achuthanandan in Thiruvananthapuram on Wednesday.
THIRUVANANTHAPURAM: Top officials of the Dubai-based Technology and Media Free Zone (TECOM) met Chief Minister V.S. Achuthanandan here on Wednesday and conveyed their interest in setting up the Smart City project at Kakkanad in Kochi as a joint venture with the State Government. TECOM, which runs the Dubai Internet City (DIC) in Dubai providing infrastructure to top IT companies, was represented by its Chief Executive Officer Abdullalif Al Mulla and Chief Planning and Business Development Officer Deepak Padmanabhan. Their meeting with the Chief Minister was followed by a discussion with State Government officials on the specifics of the agreement the two sides are likely to sign within a fortnight. "We are highly optimistic," Mr. Mulla told presspersons when the meeting concluded. TECOM had sent a draft agreement to the Government a few days ago, accepting most of the conditions the Government had set for the Rs.1,500-crore project. The Chief Minister is reportedly happy with the overall substance of the draft agreement, as TECOM had withdrawn most of the `objectionable conditions' that the previous Government led by Oommen Chandy had conceded during the negotiations in 2005.
Exclusive rights
The key change is that TECOM will not get exclusive rights for promoting IT infrastructure in Kochi region. In the earlier agreement, it wanted the Government-run Infopark at Kakkanad to be made part of the Smart City, with an additional commitment from the Government that the State will not promote any other IT park in the region. The Government also will not give 100 acres of land free to TECOM as proposed during the UDF regime. And, in place of giving the company 236 acres on outright sale for a price of Rs.26 crore, the Government will now give it 246 acres on lease for 99 years for Rs.104 crore. The Government will further get 16 per cent stake in the joint venture, against nine per cent promised earlier. There is an understanding now that, in due course, the State's equity participation in the project will be increased to 26 per cent. Mr. Mulla said he would place the details of Wednesday's discussions before the TECOM board of directors. Chief Secretary Lizzie Jacob, who led the Kerala team, said only minor issues remained to be resolved. She said the agreement would be signed within a fortnight. Joseph C. Mathew, Government's IT adviser, and Chief Minister's political secretary K.N. Balagopal were among those who represented the State.
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