Smart City adds colour to LDF government

Thiruvananthapuram, May 13 (UNI) Ending three years of political wrangle, the Smart City Information Technology park at Kochi has become a reality, with the Kerala government signing the pact with the Dubai Technology and Media Free zone Authority (TECOM), and has given a moral boost to the Left Democratic Front government which is completing one year in office on May 18.

The agreement is also seen as a moral victory for Mr Achuthanandan as he had earlier opposed the terms of the project worked out by the then Congress-led United Democratic Front (UDF) Government - a stance which was seen as anti-development. The IT project was also thought to have been shelved after the LDF came to power.

The pact was also the first mega investment that the LDF had brought into the State. Mr Achutanandan and his Left government had proved the Opposition wrong in view of development.

While in the Opposition, Mr Achuthanandan, had opposed some of the conditions, the previous government allowed in the agreement for setting up the project. He had alleged that it was a real estate project.

After assuming power, the Left government held talks with the DIC and the company officials made many rounds to the state. At every stage, the development was positive and the Chief Minister had always insisted on starting the project, but with new conditions and the pact for the Smart City comes as a boost to Mr Achuthanandan and his Left government.

Under the new agreement, the project would be set up on 246 acre of land which would be given to TECOM on lease for 99 years for Rs 104 crore. During the UDF Government, it was agreed to provide 236 acre of land for Rs 26 crore and the complete authority on the land was to be vested with the company.

Contrary to the previous commitment of nine per cent share to the state government, it would now have 16 per cent share which would be increased to 26 per cent after five years.

Moreover, the government would have the Chairmanship and a Director Board membership in the new company. When the share reached 26 per cent, the government would get three director board membership.

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