The Hindu Business Line : Kochi Smart City: DIC plans study for prospective firms

FOLLOWING the signing of the MoU with the Kerala Government on Friday to develop Smart City, a hi-tech business campus for information technology companies in Kochi, the Dubai Internet City (DIC) will now conduct a detailed market study to identify the expectations of prospective companies.

Based on this study, DIC hopes to create an infrastructure, environment and lifestyle that meets the requirements of knowledge-based companies and their knowledge workers.

The business campus will serve as an international centre of excellence for the IT industry with a special focus on IT-enabled services (ITES), according to a statement from DIC. Under the terms of the MoU, the Kerala Government will transfer ownership of the existing Infopark project, an IT business park in Kochi, to Dubai Internet City.

This will be merged into the Smart City project that will be developed adjacently. The first phase of Smart City will be developed in an area of about 350 acres. Of this, the Kerala Government will provide 100 acres as lease to DIC while 250 acres will be sold at a mutually agreed cost. The first-phase of development will be completed over seven years. Over a longer-term period, park development will extend to 1000 acres.

"We are delighted to sign an agreement with the Kerala Government to develop the Smart City project," said Mr Ahmad Bin Byat, Director General of the Dubai Technology and Media Free Zone. "Dubai Internet City has developed considerable expertise in developing business campuses that provide infrastructure and support services for IT companies. We are keen to combine our capabilities with local competencies to create sustainable economic and social value.

"This project is also part of Dubai Internet City's global expansion plans where it is seeking to evolve from a regional venture to an internationally diversified organisation. Our mission is to become the ICT business campus provider of choice across the world," he added.

Smart City is expected to be one of India's largest IT parks and have a positive impact on the local economy. The initiative has tremendous employment generation potential. As many as 33,000 jobs are expected to be created in the first phase within 7years and 75,000 following the development of 1,000 acres.

The development of Smart City will contribute to making Kochi one of India's major IT/ITES destinations. Smart City will create a micro-economy of its own with companies from the entire IT industry spectrum.

One of the key objectives of DIC will be to capitalise on the abundant human capital that exists in Kerala. By creating a centre for technology anchored by some of the leading global and regional names in the industry, DIC hopes to build a vibrant knowledge economy community in Smart City. DIC will bring to the park the vast expertise it has gained in developing one of the word's most advanced IT business campuses. These include capabilities in building and operating next-generation communication networks that reduce operational hassles.

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