The Hindu Business Line : Tecom sets deadline to sort out Smart City issues

Kochi, June 1 Tecom, promoters of the proposed Smart City Kochi project, has set a deadline before the State Government by December to sort out all issues that are creating hurdles in the progress of the project.

Mr Fareed Abdulrahman, CEO the Smart City Kochi, said at a press meet here on Monday that the project could not afford any further delay and the State Government should take immediate steps to resolve the issue regarding the 12 per cent freehold land before this year-end.

Smart City Kochi is entitled to 12 per cent of freehold land and the company wanted a re-assurance from the State Government in this regard. Since the project was a joint venture with the State Government, both the stakeholders will have to sit together and find a solution, he added.

He pointed out that the company had insisted on freehold land as the lease agreement had to be split for securing SEZ status for the project land. Of the 246 acres, 136 acres had already received SEZ status in principle. The provision of freehold land has to be included in the lease agreement for the remaining 110 acres before it gets notified as SEZ since land once notified as SEZ cannot be de-notified for including fresh provisions, he said.

“We are very eager to start the project and can bring everything on track once we see positive signs. We will develop it and bring IT companies, create job and bring business to the city, which will boost the State’s economy,” he said.

The State Government should take a clear stand on the outstanding issues to move the project forward. However, they are not doing anything in this direction, he said, adding that constant communications with the State Government officials reached nowhere.

He also termed as ‘baseless’ the Chief Minister’s statement that Tecom had been hit by global economic recession. “The financial crisis is not at all an issue for Tecom. Honestly, I don’t know the basis for that statement,” he said.

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