Kochi SmartCity commences; phase-1 to be completed in 2 yrs

KOCHI: Construction of the much delayed Rs 2,000 crore SmartCity project at the nearby Kakkanad commenced today and the first phase is expected to be completed in two years.

Within 24 months the project's first phase would be ready and is expected to provide about 7,000 jobs, Kerala Chief Minister Oommen Chandy said after performing the "ground breaking ceremony" of the 6,000 sq ft pavillion building, which will be completed within 14 weeks.
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Govt grants SEZ status to entire Kochi Smart City area

The Union commerce ministry today granted the status of a special economic zone (SEZ) to 114-acre site of the proposed Smart City project in Kochi. With this, the SEZ status has now been accorded to the total area of 246 acres of the proejct.

Earlier, in March this year, the government had sactioned SEZ status only to 132 acres as the total project area is divided into two by a river in the middle.

The latest move is expected to lead to a smooth sailing of the Rs 2,000-crore mega IT infrastructure project. Samrt City Kochi managing director Baju George said that the decision was very positive for the progress of the proejct.
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SmartCity Kochi project set to finally take off by October

The much awaited SmartCity Kochi project got a fresh set of deadlines and impetus today after a meeting of the delegates from Tecom, the promoters of the SmartCity Kochi project, with the Kerala Government in Trivandrum. Tecom would reopen its Kochi office before August 31, 2011 and present the concept master plan by September. The work on the first phase 3.5 lakh sq.ft. building would start by October 31 and this would be rolled out by October 31, 2012.

Briefing the media, Chief Minister Shri Oommen Chandy said, “This is the realisation of a long cherished dream. The SmartCity Kochi project has been finalised and new deadlines have been set. The project would be carried out within the framework of the existing agreement worked out by previous Government. As any change in the agreement at this stage would further delay the project, we opted against it. However a major change is that now the Central Government SEZ norms will be applicable to this project.”

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First phase of Smart City Kochi project to be commissioned soon

The first phase of the proposed mega IT project, Smart City Kochi, would be commissioned before Oct 31, 2012, Kerala Chief Minister Oommen Chandy said Thursday.
The Oommen Chandy-led United Democratic Front (UDF) government, which had first finalised the project during its previous term, held its first meeting Thursday with the builder of the project, Smart City Dubai.

Addressing reporters here along with the Dubai officials, Chandy said all the issues have been cleared and an action plan for the project has been drawn up.

‘Before August 31 this year, their office that was closed down last year at Kochi would be reopened. On Oct 31, the foundation stone of the headquarter building of the project would be laid and the same day the construction work for the first phase (3.5 lakh square feet) would begin and it would be finished latest by Oct 31, 2012,’ said Chandy.

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Tecom to pump in more funds for Smartcity Kochi

Tecom, the promoters of the SmartCity Kochi project, is in the process of pumping in more funds to take the project forward.

While Emirates NBD, a leading banking group in UAE, will be main financier, support finance is being sought from the Industrial Development Bank of India (IDBI) Bank.

IDBI Bank had consulted one of the director board members of SmartCity Kochi to evaluate the feasibility of the project. The bank is said to have received a positive feedback.
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Dr Baju George is the new Smart City Kochi CEO

In an effort to expedite the works of Smart City, Kochi, the Tecom has decided to appoint Baju George as the managing director of the project.

It was the five-member committee headed by the supreme council of Dubai Holdings, the parent company of the Tecom, that selected Baju George as the managing director.
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SmartCity Kochi:smart opportunities have come knocking at the doors of job hunters in Kerala

Finally, smart opportunities have come knocking at the doors of job hunters in Kerala. Putting an end to the wait for starting the construction works of Smart City Kochi, Tecom, the promoters of the project, has invited applications to various top posts for carrying out the work.

According to www.smartcity.ae, the official website of Tecom, the company wants a construction manager, document controller and senior engineers for design, mechanical and engineering services, buildings, infrastructure and cost control.

Kochi is set to become a predominant destination for the information and communications technologies (IT/ITES) industries. Being developed as a joint venture between SmartCity, a member of Tecom Investments, and the Government of Kerala, SmartCity Kochi will be home to vibrant knowledge-economy communities worldwide, anchored by leading local, regional and global companies, the site says.

To assist in achieving this vision, SmartCity Kochi is currently recruiting resultoriented, self motivated and dynamic professionals in these disciplines, the website says.

It was after clearing many hurdles that the Tecom and the Kerala Government signed a fresh lease agreement giving a new lease of life to the Smart City Kochi on February 23. Then, on March 2, the Union Government issued a special economic zone (SEZ) notification for 131 acres of the 246 acres handed over to Smart City project. The Union Government had already given the final SEZ approval for the 131 acres. The state government has started measures to secure SEZ status for the balance 115 acres.
Tecom had made it clear that the construction work would begin immediately after the issuance of the SEZ notification.

The construction of the boundary wall and the administrative block will be started on the 131 acres of land for which the SEZ notification has been issued. The works of the master plan for the project has almost been completed.

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SEZ status for 132 acres in Kochi SmartCity

The Central Government Tuesday issued a directive assigning Special Economic Zone (SEZ) status for 132 acres of land at the proposed Kochi SmartCity site. The rest of 114 acres of land will get the SEZ status in ten days.

Following this, SmartCity promoter Tecom will launch construction activities at the project site.

Kochi Smart city lease deed singed

The State government and the Tecom singed the lease deed for the proposed Smart city project here on Wednesday. Smart city board chairman, minister S Sarma and Abul Lathif Almulla, TECOM CEO signed the deed at the board of directors meet held here. Suresh Kumar IAS, IT principal secretary and industrialist MA Yousafali also attended the meeting. Two separate lease deeds covering the entire 246 acres. one for 131 acres and another for the rest of the 115-odd acres for the proposed Smart City Kochi project were signed.

After the meet Sarma said that all the confusions and apprehensions over the project are over now.

SmartCity Kochi lease deed to be signed tomorrow

Two lease deeds to cover entire 246 acres of project area
: Surviving a difficult period marked by speculations over the fate of the project, the proposed SmartCity Kochi project will get off the blocks this Wednesday.

Two separate lease deeds covering the entire 246 acres — one for 131 acres and another for the rest of the 115-odd acres — will be signed on Wednesday. K. Suresh Kumar, IT Principal Secretary, and Abdullatif Almulla, CEO of Tecom Investments Group, the parent company of the promoters of the project, will be the signatories.

Both the parties had agreed on the lease deeds, which the Cabinet had also cleared. Ahead of signing the fresh lease deed, the one that expired will be cancelled.

The land will also be registered in the name of SmartCity Kochi Infrastructure Pvt Ltd, the special purpose vehicle formed for the execution of the project. The government will provide registration and stamp duty exemptions as agreed at a meeting held earlier this month. The board meeting and lease deed signing was originally scheduled to be held last Wednesday. But it had to be postponed at the last minute after Mr. Almulla's son met with an accident and had to undergo an emergency surgery.
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Tecom delegates postpone visit to Kerala

TECOM delegates who were scheduled to reach Kerala today, to sign the lease agreement on the Smart City project at Kochi have postponed their visit. The visit was postponed due to the inconvenience of Tecom CEO Abdu Latif Al Mulla.

Tecom authorities informed that the date of their next visit will be informed later. The meeting is being held to discuss the outcome of talks held between the state Government and Tecom and will take measures to start the construction work at the earliest.

TECOM key to success of Smart City Kochi project

Dubai has become part of Kerala's growth story with the International Container Transhipment Terminal (ICTT) going on stream and the Smart City project getting ready for take off. Dubai has already been indirectly contributing to the development of the state by providing jobs to 350,000 people. The remittances they send have been playing a big role in sustaining the state's economy.

But economists feel that the direct investment of Rs16 billion by DP World in the ICTT at Cochin port and an estimated investment of Rs20 billion by TECOM in the Smart City at Kakkanad may help the state to catch the industrialisation bus it has missed. The ICTT inaugurated by Prime Minister Dr Manmohan Singh on Friday has already attracted investment worth billions in several sectors. The investment in support infrastructure like rail and road links, warehousing, container freight stations alone is worth more than Rs26 billion.

The Cochin Port Trust's project to link ICTT with the state's main trading centres of Aleppey, Kottayam, Quilon and Kannur through inland waterways is also expected to attract substantial investment in barging. The CPT has already set up Ro-Ro terminals at Bolgatty and Willingdon Islands.

The port-based special economic zone being developed at Vallarpadam as part of the ICTT is also expected to bring in investment worth Rs75 billion. The other port-related projects in various stages of implementation are the Rs30 billion LNG Terminal at Puthuvypeen, Rs7.5 billion each single buoy mooring project of Cochin Refineries Limited (CRL) and the Cochin-Kannur-Bangalore gas pipeline of Gas Authority of India Limited (GAIL) and Rs3 billion cruise terminal.
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A Team from Tecom to visit Kerala soon for expedite the construction work of Smart City Kochi

In an effort to expedite the construction work of Smart City Kochi, a team led by the CEO of Tecom Investments group Abdullatif Al Mulla will arrive in the state soon.
The director board of Smart City Kochi will meet within a few days to discuss the outcome of talks held between the state government and Tecom.

The director board will also approve various decisions related to the Smart City.
Fresh lease agreements will have to be signed between the state government and Tecom. As only 136 acres of the 246 acres have got the special economic zone status (SEZ), two separate agreements will have to be signed to lease out the two plots of 136 acres and 100 acres, respectively.

It is a prerequisite to start the construction work.

The Tecom authorities, in a press release issued in Dubai, said they would soon take steps to complete the master plan of the project.

"We are extremely happy that the project is moving forward. As mentioned in the past, the project is bigger than any issues surrounding it and the recent decisions were taken in the larger interest of the project and various stakeholders associated with it. The recent development is a reflection of our vision for Smart City Kochi and the commitment to the people of Kerala," Abdullatif Al Mulla said in the press release.
He said the immediate priority of Tecom is to sign the lease agreement for the designated land and secure the SEZ status.
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Tecom welcomes progress in SmartCity Kochi project

Tecom Investments, the promoters of SmartCity, has welcomed the progress made in the SmartCity Kochi project in resolving the deadlock which had derailed the project for over three years. The SmartCity Board Members will soon be visiting Kerala to take forward the initiative.

In a statement, Abdullatif AlMulla Group CEO, Tecom Investments said, “We are extremely happy that the project is moving forward. As mentioned in the past, the project is bigger than any issues surrounding it and the recent decisions were taken in the larger interest of the project and various stakeholders associated with it. The recent development is a reflection of our vision for SmartCity Kochi and commitment to the people of Kerala.”

“Our immediate priority is to sign the lease agreement to secure the designated land for the project which will lead to the mission critical SEZ notification of the land. We are in the process of finalising the documentation for land registration as well as putting a process in place for the master plan work to commence”, added AlMulla. He was among the UAE delegation led by Ahmad Humaid Al Tayer, Member Supreme Council for Dubai World Group & Dubai Holding Group that met the Chief Minister on February 02, 2011.
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Kerala Cabinet approves Kochi SmartCity treaty

The much-awaited yet delayed Smart City project is all set to to take off in Kochi.

The main hurdles which had been holding up the work on Kerala’s dream project for about four years were thrashed out by the state government and Tecom Investments officials here on Wednesday morning.

This followed talks held here between Chief Minister V S Achuthanandan and Ahmed Humaid Al Tayar, governor of Dubai International Financial Centre.

Achuthanandan said that Tecom would be given freehold right on 12 per cent land but within the 246 acres which has been notified as special economic zone. This would mean that the promoters will not have the right to sell the land. Tecom’s insistence on getting the 12 per cent freehold land outside the 246 acres was the main object of disagreement between the two sides for the last three years.

It was the mediatory role played by NRI businessman M A Yusuffali that paved the way for the deal which was being projected by the Opposition UDF as a mascot of the LDF government’s inefficiency.
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Kochi Smart City to turn real; Tecom gets freehold land inside SEZ

The CPM-led Left Democratic Front Wednesday reached an understanding with Tecom, the promoters of Smart City project which has been hanging fire for the past several years over the freehold land clause.

The LDF government and Chief Minister V.S. Schuthanandan who was staunchly opposed to providing freehold land have now reached an agreement to allow freehold rights in 12 per cent of the land earmarked for the project inside the Special Economic Zone.

The original framework agreement inked by Infoparks and Tecom Investment FZ-LLC and Smart City (Kochi) Infrastructure Private Limited had a clause which stated that the promoters are entitled for freehold land.

Clause 5.4 under Article 5 states: "Upon completion of master plan that determines different plots amongother things, SPV will identify plots to be converted to freehold and such plots will be converted to free hold by GoK forthwith without any further consideration or charges. Cumulative area of the plots converted to freehold will not exceed 12 % of the total land area at any point of time."

But there was lack of clarity whether the freehold land would be inside the area marked as SEZ or outside.

The government argument is that promoters will not be able to sell the freehold land which falls inside the Special Economic Zone.

The framework agreement was for declaring the entire area consisting of 246 acres of the project as Special Economic Zone (SEZ). But the Central Board of Approval for Special Economic Zone (SEZ) accorded SEZ status to an area of 136 acres of the 236 acre earmarked for the Smart City project.The reason being that the remaining area is separated by a water body and needs a separate application.
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Today’s meet may end deadlock of Smartcity Kochi

A breakthrough in the deadlock over the Smart City Kochi project is likely on Wednesday with the Governments of Kerala and Dubai having a one to one discussion. A delegation led by member of Supreme Committee for Dubai World Group and Dubai Holding Group Ahmed Humaid Al Tayer will be holding a meeting with Chief Minister V S Achuthanandan at his official residence at 12 noon. It will be followed by a formal meeting at the Mascot Hotel here.

Highly placed sources in the State Government said that the Government would be offering free hold rights over 12 percent of the total land earmarked for the project, but within the special economic zone. The delegation representing the Dubai Government is likely to accept this.

NRK businessman M A Yusuf Ali had already held deliberations with the Dubai Government representatives. Yusuf Ali is also likely to be part of the Dubai Government delegation. The Dubai Government delegation will also include TECOM group chief executive officer Abdul Latif Al Mulla and deputy chief executive officer of SmartCity Kochi Adnan Chilwan. ‘’If an understanding is reached on Wednesday’s meeting, the construction works for the SmartCity Kochi project could begin in another month,’’ IT Secretary Suresh Kumar said.
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Al Tayer to visit Kerala to salvage Smart City Kochi project

DIFC Governor will meet Kerala officials on February 2
Dubai International Financial Centre (DIFC) Governor Ahmad Humaid Al Tayer is visiting Kerala in a last attempt to salvage the Smart City Kochi project.

In a meeting held with UAE-based Indian businessman M A Yusuf Ali on Sunday evening, Al Tayer is said to have discussed the agenda for the crucial meeting the State government of Kerala is scheduled to have on February 2.

The Smart City project which was initially agreed to in 2003 has been delayed due to various stumbling blocks, the latest being the dispute over freehold rights over 12 per cent of the land.

According to reports, an understanding is said to have been reached between both parties, Tecom and the State government of Kerala to allow freehold rights over 12 per cent of the land earmarked for the project.

While Tecom has been demanding that freehold rights for 12 per cent of the land outside the Special Economic Zone, Kerala is opposed to this.
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Kochi SmartCity: Dubai Government official to visit Kerala

In a last-ditch bid to end stalemate over the SmartCity IT project in Kochi, a senior representative of the Dubai government is expected to visit Kerala shortly to iron out differences between the state government and Dubai-based Tecom, the partner for the venture.

Confirming the reports in this regard, Chief Minister V S Achuthanandan told reporters here today that the Dubai authorities had expressed wish for a discussion and the government had accepted it.

He, however, said no date had been fixed for the visit.

State Registration Minister S Sarma, who is also Chairman of the SmartCity Kochi, had yesterday said a representative of the Dubai Supreme Fiscal Committee (DFSC) had expressed wish to hold talks with the government to end the logjam over the project.

The proposed meeting was the result of mediatory talks held with Tecom and the Dubai government by a leading Keralite entrepreneur based in the Gulf, who has been acting as a mediator between the two sides to save the long-pending project.

SmartCity Kochi was envisaged as a joint venture project to set up a knowledge industry hub some five years back.

Though the government acquired about 240 acres of land for it and a framework agreement signed, the project has failed to take off due to differences between the two sides over the ownership of part of the land.

While the Dubai partners wanted free-hold right over some portion of the land, the LDF government in the state had firmly declined to accept the demand holding it was not part of the original agreement.

The government had also given repeated warnings to the Dubai company that if the project was delayed inordinately it would not hesitate to seek another partner or go ahead with the project on its own.

Source

Kerala Govt. will hold direct consultations with (DSFC) in a final attempt to Smartcity Kochi

The State government will hold direct consultations with the Dubai Supreme Fiscal Committee (DSFC) in a final attempt to find a solution to the stalemate over the proposed SmartCity Kochi project.

The move is considered a clear indication on the part of the government that it wants to take up the issue at the level of the Dubai government rather than talking to SmartCity, promoters of the project.

Talking to The Hindu over phone on Wednesday night, Registration Minister S. Sarma, who is also the chairman of SmartCity Kochi, confirmed reports of such a meeting soon.

He, however, said the date for the meeting was yet to be finalised. Some television channels had reported that a representative of the DSFC would visit the State to hold consultations with the Chief Minister next week.

Asked whether the meeting was a final attempt on the part of the government to take the project forward with the Dubai-based promoters, Mr. Sarma responded in the affirmative.

He said the meeting was an outcome of the mediatory talks held by government-appointed mediator and NoRKA Roots vice-chairman M.A. Yousuf Ali.

He said the government had informed the DSFC of its willingness for a meeting (to find a solution to the stalemate over the project).

Mr. Ali had, during the course of his mediation, held talks with Ahmad Humaid Al Tayer, Supreme Fiscal Committee member of the Dubai government, on December 23.

Mr. Sarma expressed optimism of holding the discussions in a friendly atmosphere and taking the project forward.

He, however, said the government was resolute about not compromising on the original framework agreement.

The meeting, he said, would seek a solution without deviating from the agreement. He reiterated that the government would not go back on its stand that freehold rights could not be granted to promoters with the right to sell the land.

Asked whether the government would insist that the entire 246 acres identified for the project be inside a Special Economic Zone (SEZ), Mr. Sarma said that it was how the framework agreement perceived the project.

SmartCity CEO Fareed Abdulrahman, in his last press meeting, had said that there was no freehold within a SEZ hinting that the land over which they sought freehold rights should be outside the ambit of the SEZ.

Via