The foundation stone for much-awaited the Rs 1,700 crore SmartCity, self-sustained knowledge-based industrial township being set up in Kochi, was unveiled on Friday.
The function was jointly inaugurated by Chief Minister V S Achuthanandan and , Dubai’s Tecom Investments Executive Director Fareed Abdurrahman at Edachira nearby Kakkanad. Tecom is developing the project in partnership with Kerala government.
Largest biz park
Being developed by SmartCity, the joint-venture company formed by Tecom Investments and Sama Dubai, both members of Dubai Holding, SmartCity Kochi will be one of India’s largest business parks. The project is based on the successful models of Dubai Internet City, Dubai Media City and Dubai Knowledge Village.
“The SmartCity Kochi project is in the forefront of Kerala’s aspirations to develop into a knowledge-based economy. With its world-class infrastructure, environment and support systems, SmartCity Kochi forms part of the key building blocks necessary for the state’s knowledge-based industry growth. In this respect, the project’s foundation stone ceremony is a significant occasion in the economic transformation of the state,” the chief minister said.
Mr Achuthanandan said that 90,000 jobs would be created in this project when completed. He pointed out that the state had attracted a large number of enquiries to build similar projects after the agreement was signed in May.
Productive business
Apart from a state-of-the-art business-community infrastructure, SmartCity Kochi will include a dynamic range of retail, hospitality, residential and recreational facilities that drive productive business as well as a quality lifestyle.
Work on the master plan of the project has begun and it will take almost a year for work on the buildings to commence.
This is the second of a series of knowledge industry hubs being developed by Dubai based smart city. A similar project is coming up in Malta.
Based on the models of Dubai Internet city, Dubai Media City and Dubai Knowledge village, it will be one of the largest IT parks in India when completed having 8.8 million square feet built up space in the area. About 246 acres of land has been acquired by the government to lease it to Tecom for 99 years.
