Dubai-based Tecom, promoter of the Rs 1,500 crore (Rs 15 billion) Kochi Smart city IT infrastructure project, today threatened to go to court if the state government failed to resolve contentious issues including that of "freehold land", within the next two months.
Realising a dream project, the Kerala government on Wednesday signed an agreement with its Dubai-based promoters for setting up the Smart City IT project at a 246-acre plot in Kochi.
Senor BJP leader O Rajagopal on Friday asked the UDF government not to rush the MoU on the Smart City IT Project in Kochi, alleging that the venture controlled by Dubai Internet City could pose a serious threat to the national security.
The Kerala Chief Minister, Oommen Chandy, on Wednesday rejected as "baseless", the Opposition Leader V S Achuthanandan's charge that a consultancy firm had been given Rs 2 crore for preparing the agreement between the state government and the IT proj
The government has informed the Dubai-based Tecom authorities about the steps taken so far in this regard and that it was prepared to hold talks with the firm, chief minister V S Achuthanandan told reporters in Thiruvananthapuram.
The project, which is worth Rs 1,500 crore (Rs 15 billion) would have changed the face of the state but red tape and the lack of interest in the CPI-M leadership following internal bickerings in the party leading to a standstill in administration and a stagnancy in further proceedings has resulted in the Smart City calling it quits.
The government had received several proposals to provide better infrastructure facilities at Kochi, the state's comemrcial capital. Though the chief minister did not mention any particular project, Sky City and Metro railway proposals are among those pending before the government.
The board of directors of SmartCity Kochi (SCK), a joint venture between SmartCity Dubai and the Kerala government, has approved the concept master plan of the project.
Nearly $120 bn will come from private sector
The 100 acres of land that the government would provide for the project would also be taken back unconditionally. A high-level team from DIC is expected to visit the state next week to sign the agreement.
On Monday, the US delegation met Urban Development Minister Venkaiah Naidu.
The Kerala government on Sunday ended months of speculation by signing the agreement with Dubai-based Technology and Media Free Zone Authority to set up the proposed Smart City on around 100 hectares of land in Kochi.
The much-hyped $350-million project had seen the first concrete step when the agreement for the proposed technology venture between the state government and the Dubai-based Tecom was inked on May 15, 2007. The project, to come up at Kakkanad in Kochi is expected to be constructed by adopting globally-benchmarked environmentally-friendly practices that will make its developments highly energy and resource efficient.
In order to complete in time the project, an initiative of the Kerala government and Dubai Holding, the board also granted special powers to the executive members and strengthened the executive team.
The Kerala government on Thursday signed a lease deed with Tecom of Dubai for the commencement of the civil work of Smart City Kochi.
Kerala Chief Minister Oommen Chandy on Sunday said the United Democratic Front government's top priority is implementing the SmartCity IT project in Kochi after sorting out issues in the agreement the previous government had with promoters, Dubai based Tecom "which are against the state's interests."
State government and the investment partner of the project was on a dispute over 'free hold land' issue.
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Out of 98 cities selected for the Rs 48,000 crore Smart Cities project, 24 are capital cities.
Marking a major deal in IT sector in Kerala, the state government on Wednesday approved the agreement to be signed with Dubai-based TECOM for setting up Rs 1500 crore Smart City project in Kochi.
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Bhubaneswar, Pune, Jaipur and Surat are among 20 cities selected in the first batch to be developed as 'smart cities'.
A move by the Kerala state government to set up a Smart City at Kochi has triggered off a fresh rally in real estate prices in the central districts of Kerala, especially in and around Kochi.
The Smart City project near Kochi is finally on track and, if all goes well, it should change the face of Kerala.
'Arundhati Roy is like a ballerina performing on a high wire, cool, supremely at ease but conscious of all the adoring eyes on her,' notes P Vijaya Kumar.
"I congratulate the people of Kochi on the proud moment," the PM said.
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With the Centre issuing guidelines for their resumption under Unlock 4, the rapid transit networks started operations in a graded manner in Delhi-NCR, Lucknow, Kochi, Chennai, Hyderabad, Bengaluru and Ahmedabad, but were still closed in Mumbai, Nagpur, Kolkata and Jaipur.
A late goal from Amine Chermiti saw Mumbai City FC stun Kerala Blasters FC 1-0 in a closely-fought Hero Indian Super League clash at the Jawaharlal Nehru Stadium, in Kochi, on Thursday.
An analysis of the National Housing Bank's Residex shows from 2007 to now, almost all tier-II cities have seen their residential property prices appreciate by 45-120 per cent.
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Girish AD doesn't make romantic comedies so much as he elevates the genre, observes Sreehari Nair.
Unless you are very knowledgeable, seek expert advice before making such a high-ticket investment, cautions Sarbajeet K Sen.
Of the 23 companies, eight have raised funds after Shark Tank India.
On a cloudy Monday this month, Mohammed Irshad flew from Kochi to Gurugram to attend an exclusive investor networking event. Among a handful of founders selected for the event, Irshad was to pitch his peer-to-peer learning start-up Notespaedia for funding in front of top venture capital investors such as AngelBay, Elevation Capital, and Inflection Point Ventures. He failed to woo them, but the feisty entrepreneur was determined to continue his hunt.
