+
Dubai's Tecom to Exit Kochi Smart City Project
SMART CITIES

Dubai's Tecom to Exit Kochi Smart City Project

The state government has decided to remove the Dubai-based Tecom Company from the Smart City Kochi project, originally envisioned to attract global investment to Kerala. Despite the project's first phase being completed in 2016, five years after it was signed in 2011, the second phase failed to materialize over the following 13 years. This prolonged stagnation and failure to meet its objectives led to the decision to part ways with Tecom.

The Cabinet, during a meeting on Wednesday, approved the recommendation of a committee led by the Chief Secretary to address the crisis. It was decided to finalize the separation policy in mutual agreement with Tecom. Additionally, the Cabinet proposed appointing an independent evaluator to determine the compensation payable to the company.

To oversee this process, the government formed a committee comprising the IT Mission Director, Infopark CEO, and Dr. Baju George, Managing Director of OKIH (Overseas Keralites Investment and Holding). Smart City IT Township, located next to Kakkanad Infopark, was initially launched with promises of creating 90,000 jobs and constructing 88 lakh square feet of building space. However, Tecom’s inability to meet these commitments led to the project's downfall.

The Kerala government owns a 16 per cent stake in the project, while the Dubai Holding Group holds 84 per cent. The Chief Minister serves as the Chairman of the Board of Directors. To date, only one building exists in the Smart City, housing 37 IT and related companies, alongside six construction partners. The project has attracted a total investment of Rs 26.09 billion, of which Rs 19.35 billion was contributed by co-developers directly identified by the government.

The state government has decided to remove the Dubai-based Tecom Company from the Smart City Kochi project, originally envisioned to attract global investment to Kerala. Despite the project's first phase being completed in 2016, five years after it was signed in 2011, the second phase failed to materialize over the following 13 years. This prolonged stagnation and failure to meet its objectives led to the decision to part ways with Tecom. The Cabinet, during a meeting on Wednesday, approved the recommendation of a committee led by the Chief Secretary to address the crisis. It was decided to finalize the separation policy in mutual agreement with Tecom. Additionally, the Cabinet proposed appointing an independent evaluator to determine the compensation payable to the company. To oversee this process, the government formed a committee comprising the IT Mission Director, Infopark CEO, and Dr. Baju George, Managing Director of OKIH (Overseas Keralites Investment and Holding). Smart City IT Township, located next to Kakkanad Infopark, was initially launched with promises of creating 90,000 jobs and constructing 88 lakh square feet of building space. However, Tecom’s inability to meet these commitments led to the project's downfall. The Kerala government owns a 16 per cent stake in the project, while the Dubai Holding Group holds 84 per cent. The Chief Minister serves as the Chairman of the Board of Directors. To date, only one building exists in the Smart City, housing 37 IT and related companies, alongside six construction partners. The project has attracted a total investment of Rs 26.09 billion, of which Rs 19.35 billion was contributed by co-developers directly identified by the government.

Next Story
Infrastructure Urban

India to Invest Rs 600 Billion to Upgrade 1,000 ITIs

As part of its drive to modernise vocational training, the Ministry of Skill Development and Entrepreneurship (MSDE), in collaboration with Gujarat’s Labour and Employment Department, held a State-Level Workshop at the NAMTECH Campus within IIT-Gandhinagar to discuss the National Scheme for ITI Upgradation.The consultation brought together key stakeholders from industry and the training ecosystem to align expectations and support implementation of the scheme, which aims to transform 1,000 Industrial Training Institutes (ITIs) across India using a hub-and-spoke model. The total outlay stands ..

Next Story
Infrastructure Urban

India Unveils Rs 600 Billion Maritime Finance Push

The Ministry of Ports, Shipping & Waterways (MoPSW) hosted the Maritime Financing Summit 2025 in New Delhi, bringing together over 250 stakeholders including policymakers, industry leaders, global investors, and financial institutions. The summit, held under the ambit of Maritime Amrit Kaal Vision (MAKV) 2047, focused on transforming India into a leading maritime power with strengthened financial, infrastructural, and technological capabilities.Union Minister Sarbananda Sonowal emphasised India's strategic progress, noting that average port turnaround times have dropped from four days to u..

Next Story
Infrastructure Urban

Govt Allocates Rs 500 Million To Boost Community Radio

The Central Government, through its ‘Supporting Community Radio Movement in India’ scheme, has allocated Rs 500 million to strengthen the community radio ecosystem across the country. The initiative aims to assist both newly established and long-operational Community Radio Stations (CRSs), ensuring their relevance to local educational, social, cultural, and developmental needs.According to the policy published by the Ministry of Information and Broadcasting, CRSs may be set up by not-for-profit organisations with at least three years of demonstrated community service. These stations are ex..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?