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Our Bureau

Thiruvananthapuram , Jan. 21

THE State Government has offered 100 acres of land free of cost to Dubai Internet City for setting up the proposed Smart City in Kochi on the condition that the project guarantees creation of 33,000 professional jobs within a period of three to five years.

According to Government officials, the proposal has been linked to the subsidy-job creation component contained in the Information Technology Policy of the State Government. The policy provides for a subsidy of Rs 20,000 to the units for every job created.

The State Government has also agreed to make available 90 acres of land in the possession of Infopark in Kochi along with the infrastructure built up so far on payment of actual value. Besides, it will acquire another 200 acres for the project for which the promoters will have to pay the actual cost.

The officials said that the State Government would carry out an asset valuation of the Infopark property. The Dubai Internet City has asked for 400 acres of land in the first phase and another 600 acres in the second phase for the $300-million project.

A three-member team of the promoters has been holding discussions with a Cabinet-appointed six-member panel, headed by the Chief Secretary, Mr Babu Jacob, over the last four days on the project. The Dubai team will return for another round of discussions on February 20 with more documentation of the project.

The officials said that the job-creation condition in lieu of free land would include a penalty clause. The modalities in this respect would be worked out before finalising the agreement.

The four-day meeting also discussed the question of power and water supply for the project. The State Government assured the promoters that quality power and water would be provided at prevailing tariffs from time to time.

The Government has already constructed the seaport-airport road linking Kochi port with the international airport at Nedumbassery. The Government has now agreed to provide a connecting road to the Smart City.

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