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The Kerala government has told Dubai-based TECOM Investments, main promoters of Kochi SmartCity IT Park, that work of the project is not progressing as per the time-frame.
“State Government has informed TECOM about its stand that the progress of the work is not enough,” Chief Minister Oommen Chandy told reporters here today during a cabinet briefing.
Chandy was responding to a query whether TECOM was withdrawing from the project and its parent company Dubai Holding was taking over the project.
TECOM wanted SEZ status for two blocks for the preparation of the master plan of the project, whereas the state government was of the view that the company could go ahead with the project work as one block had already been accorded SEZ status. However, the issue would be settled soon, Chandy said.
Construction of SmartCity was launched by Chandy in October.
The project is expected to have minimum 8,800,000 sq ft built up space with a minimum of 6,200,000 sq ft set aside for IT/ITES/allied services. It was to be the first SmartCity project in India and second in the world by TECOM Investments.
Smart City (Kochi) Infrastructure Ltd is a joint venture company formed to develop the Kochi Smart City project with government holding 16 per cent share and TECOM Investments 84 per cent share.
The project, when completed, is expected to create over 90,000 direct jobs.
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