Sobha Developers to sign MoU with Kerala

By Staff
|
Google Oneindia News

Kochi, Aug 18: Bangalore-based Sobha Developers Ltd. (SDL) will sign a Memorandum of Understanding with the Kerala Government on August 20 to set up the proposed Rs 5,000 crore Sobha Hi-Tech City in Kochi.

Addressing a press conference here, company's Regional Director (Kerala) P Ramakrishnan said the MoU, which will be signed in Thiruvananthapuram, envisages the creation of an integrated city with a focus on information technology, electronics, pure and applied sciences, research and development and knowledge dissemination.

The company had already acquired about 300 acres for the project in Maradu in Kochi. The total area of the hi-tech city would be about 400 acres. The project would be developed in four phases over a period of eight years.

The process of seeking statutory clearances and approvals for the project would be initiated after the signing of the MoU.

Mr Ramakrishnan said though the project was envisaged as a Public Private Partnership, the entire Rs 5,000 crore investment would be made by SDL. The role of the government would be that of a facilitator. ''We want the government to facilitate single window clearance for the project,'' he added.

Asked about the environmental concerns raised by the project as the proposed site is a mangrove, Mr Ramakrishnan said the hi-tech city would be built without damaging the mangrove. ''We will build around the mangrove.'' Some reclamation of the backwaters may also be done, he added.

However, he refused to comment on allegations raised by certain quarters about the involement of a ''land mafia'' in the project.

Describing the proposed hi-tech city as the largest township development project in Kerala, Mr Ramakrishnan said it will include a seven million sq. ft. knowledge park, retail shopping malls and avenues, hotels, resorts and other leisure facilities, residential complexes and a unique Marina.

While claiming that the hi-tech city would create a substantial number of technology-related and non-technology jobs, Mr Ramakrishnan said actual numbers had not been worked out so far.

''The project is on the drawing board stage. We will do the detailing after the signing of the MoU,'' he added.

UNI

For Daily Alerts
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
X