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Kerala govt, TECOM sign SmartCity deal

A final agreement in this regard was signed by State Chief Secretary Lizzie Jacob and TECOM Investments Executive Chairman Ahmad bin Byat in the presence of Chief Minister V S Achutanandan, seven members of his cabinet and senior officials at a ceremony here yesterday afternoon.

The industry township will be developed by SmartCity, a joint venture between TECOM and Sama Dubai, both members of Dubai Holding. With the signing of the pact, Cochin joins Malta as the first two members of a global network of knowledge-based industry townships that SmartCity seeks to create.

The agreement for setting up a similar township in Ricasoli was signed by SmartCity with the Government of Malta last month. Ahmad bin Byat said that the set up of the two townships will be the same but the content may differ.

Speaking after signing the agreement, he said that the endeavour of SmartCity will be to bring major global IT and national players to Cochin. “We will start our road shows to market Cochin SmartCity immediately after completing the planning process.”

“SmartCity will be a place for some of the best companies from India and across the world to explore partnerships, collaborate and cross-fertilise ideas. We seek to create a platform for IT-enabled services sector to climb the value chain,” Ahmed bin Byat added.

He said that a number of global and national players had already demonstrated significant interest in the project and hoped that they would focus their India operations and business through Cochin SmartCity.

The TECOM chief sought the support of the state government for the successful completion of the project. “We will go beyond the terms of the agreement and deliver what we have promised to Kerala government,” he added.

Extending full cooperation of the state government, the chief minister hoped that the project will play a key role in tapping the state's enormous potential for the development key industries like ICT and media.

"We look forward to working with SmartCity to develop a project that brings wide-ranging benefits to the economy and the people of Kerala,” he said adding that it would accelerate the flow of investments to the state. He hoped that it will also usher in a new era of cooperation between India and the Middle East.

SmartCity Executive Director Fareed Abdul Rahman, who led the negotiations with the Kerala government, said that the Cochin SmartCity will be a hotbed of creativity. Besides the economic benefits, it would bring international lifestyle to Kerala.

Covering one million square metres of land and 8.8 million square feet built-up space, the SmartCity will be one of India’s largest business parks and would generate 90,000 jobs in a span of 10 years. The initial investment estimated is $200 million.

It marks the second largest foreign direct investment (FDI) in Kerala.