Kerala Kochi Smart City Lease Agreement To Be Signed On 16 Feb
According to reports, the new Lease Agreement concerning Kochi Smart City will be signed on Feb 16. Kochi Smart City was caught in a web of controversies ever since its inception. A TECOM delegation from Dubai will be arriving in Kerala to sign the Kochi Smart City Agreement.
Kochi Smart City Lease Agreement To Be Signed On 16 Feb
According to reports, the new Lease Agreement concerning Kochi Smart City will be signed on Feb 16. Law Department is scrutinizing the draft Agreement. A delegation led by TECOM CEO Abdullatif Al Mulla will be arriving in Kerala to sign the Agreement. There will be two Agreements – one for the 131-acre plot, other for the 113-are plot. The former plot belongs to the SEZ. Official notification is awaited regarding this. After the agreement is signed, construction activities will get underway on the SEZ plot.
If the scrutiny process is delayed, the delegation will postpone its trip. It is said that the Law Department has already received a TECOM email accepting the draft Agreement.
Kochi Smart City was embroiled in various controversies from the day one plans for this project were unveiled. There was a long battle of words between the TECOM authorities in Dubai and representatives of Kerala Government. Kerala Chief Minister had made a few controversial statements in the course of the years, which cast doubts on the project becoming a reality. Recently, discussions were held under the mediation of Kerala-born UAE-based business man M. A. Yusuf Ali in Thiruvanthapuram, and the outstanding issues were sorted out. Kerala Government had conceded a few concessions like exemption of stamp duty for registration. But on the freehold issue, TECOM had to agree to the Government stand that property couldn't be transferred to a third party.
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