Government of Kerala and SmartCity sign final agreements on 'SmartCity Kochi'

The agreement was signed, in the presence of V S 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.

VS Achuthanandan said: "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.

"SmartCity Kochi will play a key role in tapping Kerala's enormous potential for the development of key industries like ICT and media. We look forward to working with SmartCity to develop a project that brings wide-reaching benefits to the economy and the people of Kerala."

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."

SmartCity Kochi will attract an investment of about US $350 million. It is estimated to have a built-up space of 8.8 million square feet. Kochi will join Malta as the first two members of a global network of knowledge-based industry townships that Smart City seeks to create. Last month, SmartCity signed an agreement with the Government of Malta to establish SmartCity Malta, a business township to be located in Ricasoli, Malta.

Bin Byat added: "SmartCity Kochi will be 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."

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.

Apart from a state-of-the-art business-community infrastructure for IT and Media companies, SmartCity Kochi will offer a host of business support services as well as tourism, residential, retail and recreational facilities.

Set within an exquisitely designed landscape, SmartCity will feature an architecture that is a blend of modern and local traditional styles.