Reference no: EM1377605
SmartCity and Government of Kerala sign landmark contract
SmartCity and Government of Kerala sign landmark contract Dubai, May 13, 2007(WAM): Opening another horizon of business partnership in India and UAE, SmartCity, a joint venture in TECOM Investments and Sama Dubai, and the government of Kerala signed today the final agreements to establish SmartCity Kochi at a ceremony held in Trivandrum, capital of Kerala..
Modelled on the Dubai Internet City and the Dubai Media City, SmartCity Kochi is expected to attract investment from Indian and global conglomerates..
The landmark agreement ending three years of speculation was signed, in the presence of VS Achuthanandan, the Chief Minister of Kerala, by Ahmad Bin Byat, Executive Chairman of TECOM Investments and Lizzie Jacob, Chief Secretary of the Government of Kerala. Also present were Farhan Faraidooni, Executive Chairman of Sama Dubai, Abdullatif Almulla, Chief Executive Officer of TECOM Investments and Fareed Abdulrahman, Executive Director of SmartCity..
SmartCity Kochi will be one of India's largest business parks. Covering 1 million square metres of land, the project will create an infrastructure and environment for knowledge-industry companies - primarily IT and media related firms - to grow and flourish, based on the successful models of Dubai Internet City and Dubai Media City. ..
"The SmartCity Kochi project comes at a time when Kerala is on the threshold of a new phase of knowledge-based economic development. . Knowledge-based industries are increasingly driving the state's economic growth and we are committed to enhancing the conditions for this sector to grow.", the Chief Minister said Bin Byat said: "The agreement we have reached is a win-win situation for both of us and the Government of Kerala. It is a milestone deal filled with great promise. Partnering with the Government of Kerala and the industry, we will develop SmartCity Kochi into a new hub for excellence in knowledge-based industries..
"We look forward to working with all stakeholders to complete a successful project. We require the constant support and commitment of the government at every stage. We are confident that the rapport we have established with them will enable us to work closely at each step.", he added SmartCity Kochi is projects as a place for some of the best companies from India and across the world to explore partnerships, collaborate and cross-fertilise ideas.
"Of special focus for us will be the IT-enabled services sector, which has seen a huge boom in India. We seek to create a platform to contribute to this sector's climb up the value chain.", Bin Byat said..
SmartCity Kochi will be the first Indian city that will form part of the global SmartCity network. It is expected that global and national players, a number of which have already demonstrated significant interest in the project, will focus their India operations and business through SmartCity Kochi..
Faraidooni said: "Considering the promise that Kerala's IT sector shows and the overall growth in Indian knowledge-based industries, the project has considerable potential. The complementary fit of TECOM Investments and Sama Dubai along with the expertise of our local partners will ensure the creation of a world class project that meets the highest global benchmarks of quality and technology." SmartCity Kochi will bring about new employment opportunities in knowledge-based industries as well as in the areas of administration, hospitality, consultancy, construction, tourism, retail and logistics among others.
SmartCity will leverage its relationship with successful clusters like Dubai Internet City and Dubai Media City to raise the interest and secure the participation of global IT and media brands in SmartCity Kochi..
Is the gov't of Kerala still socialist/communist? What do you think?
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