Kerala - Thiruvananthapuram   

Cabinet clears pact for SmartCity project

NEW PROJECT: Chief Minister V.S. Achuthanandan greets Governor of Dubai International Financial Centre Ahamed Humaid Al Tayer. Chief Executive Officer of Tecom Abdul Latif Al Mulla, Registration Minister S. Sarma and mediator and NRI businessman M.A. Yousuf Ali look on.

THIRUVANANTHAPURAM: The Cabinet approved the agreement reached for revival of the SmartCity Project in Kochi, following discussions between Governor of Dubai International Financial Centre Ahamed Humaid Al Tayer and Chief Minister V.S. Achuthanandan, here on Wednesday.

The Chief Minister told the media after the Cabinet meeting that all the outstanding issues, that prevented the starting of the project, had been resolved. The company promoted by Dubai-based Tecom for taking up the project would be given 12 per of the land acquired for the project as “freehold” within the Special Economic Zone proposed for the project. The freehold land would not be alienable.

Steps would be taken within a week to register the lease deed for the rest of the land. Registration of the deed would be exempted from stamp duty and registration fee. Work on the project would be taken up at the earliest.

Mr. Achuthanandan said the services of the vice-chairman of NoRKA-Roots M.A. Yousuf Ali, who acted as mediator for the negotiations, were commendable.

Referring to the Opposition criticism that the project was delayed due to ineptness of the government, the Chief Minister said the criticism was nothing but a lament from the Opposition that had tried to hinder the project and failed. When in power, the UDF had tried to grant excessive concessions to the promoters, including transfer of the State-owned Infopark in Kochi, to the project. The Infopark was now gearing up to employ 1 lakh people.

Earlier, speaking to the media after the talks with the Chief Minister, Mr. Al Tayer, who is also a member of the Supreme Committee for Dubai World Group and Dubai Holding Group, UAE, said he was confident that the work on the project could be taken up within three months. Any revision of investment amount would be left to the Director Board to decide.

The freehold area would come to about 29.5 acres of the total 246 acres earmarked for the Rs.1,500-crore project. The balance is to be given to the promoter-company on lease for 99 years.

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