Kochi, Wednesday, February 23, 2011: Putting curtains to all doubts over the implementation of the Smart City project, the lease deed for the dream project was signed here today. The proposed Smart city IT infrastructure project jointly promoted by the Kerala Government and Dubai-based Tecom Investments Group, envisages direct employment for about 90,000 persons.

The agreement for the entire 246-acre project site was signed between Tecom Investments Group CEO Abdul Lathif Almulla and State IT Secretary K Suresh Kumar in the presence of Kerala fisheries minister and Smart city Chairman S Sharma.

Later, speaking to reporters, Sharma said all measures have been completed to start the project on a war-footing and that construction would begin as soon as SEZ notification is issued by the central government.

“The SEZ notification for about 131 acres is expected within two to three weeks, “he said. Abdul Latif Almulla said his meeting with the director board of the Smart city project was ‘fruitful’ and ‘positive’ and they were very supportive of the project.

A preliminary master plan was presented before the board of the Smart city project today by Tecom and a detailed one will be presented at the next meeting, he said. The agreement was signed after the board meeting.

Smart City CEO Fareed Abdulrahman, who has been representing Tecom, was not present on the occasion. AlMullah had earlier this month said in Dubai that their immediate priority was to sign the lease agreement to secure the designated land for the project.

“We are quite optimistic that we will be able to complete this project as planned and are confident of fulfilling all the time-bound contractual obligations mentioned in the Framework Agreement, “he had stated.

The foundation stone for the project was laid in May, 2007. The project has been in limbo over the issue over 12 per cent freehold land. The state government was prepared to give freehold land only inside the SEZ, which was not agreeable to Tecom.

However, the issue was settled early this month at talks in Thiruvananthapuram between Chief Minister V S Achuthanandan and Ahmed Homaid al Tajir, the member of the Supreme Committee for Dubai World Group and Public Holding Group.

As per the agreement, on completion of the Master Plan, 12 per cent of the total land would be converted from leasehold to freehold rights in the Special Economic Zone. The government would also exempt it from a registration fee and stamp duty. The agreement was later approved by Cabinet, paving the way for work on the project to start without further delay.