Tvm: The Kerala Government has decided to send one final letter for the ‘last time’ to Tecom, the Dubai based promoters of the proposed SmartCity Kochi project. This was disclosed by the Chief Minister Shri V S Achuthanandan while briefing the mediatoday after the weekly Cabinet meeting.
The Chief Minister however did not divulge the contents of the letter. This must be the umpteenth letter being exchanged between the Kerala Government and Tecom on the project ever since the SmartCity Kochi was launched over three years back. The foundation stone for the project was laid on November 16, 2007. The Cabinet had, in its meeting two weeks back, asked the LDF to take a final political decision on the project.
On being asked about the use of the SmartCity land by KSEB for their project, the Chief Minister brushed it aside saying, “It is a baseless allegation”. There were some reports on how KSEB had started using the SmartCity Kochi land for its own project making a mockery of the discussions within the LDF and also between Tecom and the State Government about the future of the project. About 100 acres of the 246 acres land allotted for the project belongs to KSEB.
The Electricity Minister Shri A K Balan had said last week that the KSEB would take back the land provided for the project and utilise the same for the proposed 1,026 MW Brahmapuram Power Project, if the SmartCity Kochi project fails to take off.
Meanwhile SmartCity has announced that its offices in Dubai will be closed from December 02 - 05, 2010 to mark the UAE National Day and the Islamic New Year.
Anil Philip
Kerala IT News
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The LDF government and Chief Minister V.S. Schuthanandan who was staunchly opposed to providing freehold land have now reached an agreement to allow freehold rights in 12 per cent of the land earmarked for the project inside the Special Economic Zone.
The original framework agreement inked by Infoparks and Tecom Investment FZ-LLC and Smart City (Kochi) Infrastructure Private Limited had a clause which stated that the promoters are entitled for freehold land.
Clause 5.4 under Article 5 states: "Upon completion of master plan that determines different plots amongother things, SPV will identify plots to be converted to freehold and such plots will be converted to free hold by GoK forthwith without any further consideration or charges. Cumulative area of the plots converted to freehold will not exceed 12 % of the total land area at any point of time."
But there was lack of clarity whether the freehold land would be inside the area marked as SEZ or outside.
The government argument is that promoters will not be able to sell the freehold land which falls inside the Special Economic Zone.
The framework agreement was for declaring the entire area consisting of 246 acres of the project as Special Economic Zone (SEZ). But the Central Board of Approval for Special Economic Zone (SEZ) accorded SEZ status to an area of 136 acres of the 236 acre earmarked for the Smart City project.The reason being that the remaining area is separated by a water body and needs a separate application.
The agreement became possible after NRK businessman M.A. Yusuf Ali met officials of the Dubai Supreme Fiscal Committee, Tecom and convinced them of the government.
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