Kochi Smart City project not abandoned; 100 companies awaiting land: Minister P Rajeev

Kochi: The state government has not abandoned the Kochi Smart City IT project, Industries Minister P Rajeev said on Thursday. His statement comes in the wake of the government’s decision to exclude Dubai-based Tecom Investments from the joint venture.

“The land in Kochi will be fully utilised under the government’s supervision. A notice to withdraw from the agreement was issued earlier. A committee will decide on the compensation to be provided to Tecom. There is significant demand for land in Kochi, with 100 companies awaiting allocation. This step was taken to ensure optimal use of the land for these companies. Tecom has not undertaken any notable projects outside the UAE. Public perception on the matter is clear. The project is not being terminated, and investors need not worry—this opens new opportunities,” Rajeev explained.

The Kochi Smart City IT project was envisioned as a landmark initiative to position Kerala on the global IT map. The government has decided to reclaim the 246 acres leased for the project, citing Tecom’s failure to attract substantial investments or deliver on its promise of creating 90,000 jobs even after 13 years.

The state plans to appoint an evaluator to determine the compensation for Tecom based on the investments it has made so far. A committee, comprising the IT Mission Director, the CEO of Kochi Infopark, and Dr Baju George, MD of Overseas Keralites Investment and Holding Limited, has been tasked with providing recommendations on the matter.