SMART CITY COCHIN RECEIVES SEZ APPROVAL.
20 June 2007 -Exclusive Ventures
Smart City has received Central Govt approval as SEZ. The Special Economic Zone would be notified later after final approval process. That is indeed fast and "SMART" progress. Incidentally, Dubai Internet City by TECOM, is a shining example of entrepreneurship. Though the initial reaction of everyone would be WHY DUBAI?, the fact is that the IT World has virtually thronged DUBAI making TECOM's venture a stunning success. TECOM is planning Smart Cities in several locations across the world. Cochin will definitely see large influx of Companies, driven by Tecom's pioneering work on attracting solid business, to Dubai.
View the list of Companies in Dubai Internet City! (http://www.tecom.ae/partner_directory/ Click on Complete List of Partners on Left Menu! ) Unbelievable ? Whopping??
This is what Tecom is attempting to recreate in Cochin. Bringing hundreds of companies from across the world into Smart City Cochin. Now you know how 90,000 jobs would get created!
Also see how the Govt. is pressurising (Last para of news report below), to get preliminary project development work started. The Terms of Agreement requires TECOM to start Master Plan work within 90 days of MOU. Tecom Website-Dubai Internet City
--------------------------NEWS CLIP FROM FE 20.06.07----------------------------
Centre clears SEZ status for $350-m Kochi Smart City
Wednesday, June 20, 2007 at 0000 hours IST , Financial Express
The Special Economic Zone (SEZ) tag for the $350-million Kochi Smart City is ready. The Centre has
granted in-principle clearance to conferring SEZ status on the upcoming mega-IT facility, for which Kerala government and Dubai TECOM Investment had recently inked MoU, according to chief minister VS Achuthanandan. By the SEZ norms, a company should have a minimum built-up space of one lakh sq ft and 25 acres of land to qualify.
Smart City has both, Achuthanandan, who also handles the IT portfolio, told the Assembly in a written reply. The project envisages
creating 88 lakh sq ft of built-up space and supporting infrastructure for IT and IT-enabled service companies. This is to
generate an estimated 90,000 high-paying jobs in the next 10 years. State government is to have 16% stake in the project in the beginning and 26% after five years.
Meanwhile, sources
told FE that the masterplan for the project would be ready soon. The Dubai firm is under pressure of the pact to begin preliminary work within 90 days of signing the MoU. The actual construction will start only within a year. Ahmed Bin Byat, chairman, TECOM has said that Kochi Smart City would form a pioneer component of a network of similar projects that TECOM is planning worldwide. Smart City in Kochi was the company’s first such facility in India and second in the world.
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DUBAI INTERNET CITY PICTURES
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