Kochi Smart City will begin construction of its first phase by July 1, 2013.
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The construction of phase one of SmartCity Kochi is set to begin on July 1, the Chief Minister of the Indian state of Kerala, announced on Thursday.
Oommen Chandy told Gulf News that the project was a proposed self-sustained industry township for knowledge based companies operating in Kerala. It is being promoted by Dubai Holding member, Tecom Investments.
The board of directors for the project met in Dubai to approve the master plan of the first phase, which would involve the construction of 1.5 million sqm of buildings, Chandy said. The chief minister was accompanied by senior Kerala government officials, Ahmad Bin Bayath, CEO of Dubai Holdings, and Abdul Latif Al Mulla, group CEO of TECOM Investments.
Chandy added that the construction of 400,000sqm of building would start on July 1, and aimed to be completed within 18 months. He said that the most important part of construction for the first phase would begin within six months.
The ground-breaking ceremony of the $435.64 million SmartCity Kochi was held in October 2011. The project is expected to create about 25,000 direct jobs in its first three to four years. In total, SmartCity Kochi is expected to generate about 90,000 jobs, potentially transforming Kerala into an investment destination of choice.