Dubai’s Tecom plans Rs 10,000-cr smart city for north after Kochi.
In north India after completing the first phase of Rs 5,000-crore knowledge hub, Kochi Smartcity, by next year, the Dubai-based Tecom will plan a similar project, with an investment to the tune of Rs 10,000 crore.
The source said that the first phase comprises a building of 6.5 lakh sq ft built-up area, spread across 11 acres. The Kochi project has been snapping up plenty of business interests, thanks to the Indian diaspora in IT.
At the meeting of the Board of directors of Smartcity in Abu Dhabi, the promoters agreed to the commissioning of phase I of the project on March 25, 2015, According to Kerala industry minister P K Kunjhalikutty.
It would be in a “much larger scale than the Kochi Smart city,” as per sources. Tecom is now scouting for a right investment zone in north India, possibly NCR, to set up a similar project.
SmartCity India MD Baju George said: ” good connectivity is a pre-condition, although any location that can offer connectivity and a pool of raw talent will be okay with us. We are not looking at a well-developed IT centres like Pune or Hyderabad but not so developed areas “, When asked if Delhi NCR could be a potential location.
While the rest is held by Tecom Investments, a subsidiary of Dubai Holding, The Kerala government holds 16% equity in Kochi Smart City project.
Once completed, the objective is to take this to 140 lakh sq ft of developed area over the next five years, this four-phase project will be at least 88 lakh sq ft developed area and is expected to create over 90,000 direct jobs. George said though the mandate is to have 88 lakh sq ft.
The proposed Smart City will be self-contained knowledge townships.
Sources: Financial Express
Abu Dhabi, Delhi, Dubai, Hyderabad, Kerala government, Kerala industry, Kochi Smart city, NCR, North India, P K Kunjhalikutty, Pune, Tecom
