IT Business Campus Dubai, Sept. 9, 05 (WAM)--Dubai Internet City (DIC) todayannounced that it has a signed a Memorandum of Understanding(MoU) with the Government of theSouth Indian state of Keralato develop Smart City, a hi-tech business campus for informationtechnology companies in the city of Kochi.

The business campus will serve as an international centre ofexcellence for the IT industry with a special focus on IT-enabledservices (ITES).

Under the terms of the MoU, the Kerala government will transferownership of the existing Infopark project, an IT business parkin Kochi, to Dubai Internet City. This will be merged into theSmart City project that will be developed adjacently.

The first phase of Smart City will be developed in an area ofabout 350 acres in the heart of Kochi, Kerala's commercial hub.

Of this, the Kerala government will provide 100 acres as leaseto 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 1000acres.

"We are delighted to sign an agreement with the Kerala governmentto develop the Smart City project," said Ahmad Bin Byat, DirectorGeneral of the Dubai technology and Media Free Zone. "Dubai InternetCity has developed considerable expertise in developing businesscampuses that provide infrastructure and support services forIT companies.

We are keen to combine our capabilities with local competenciesto create sustainable economic and social value.

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

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

The development of Smart City will contribute to making Kochione of India's major IT/ITES destinations. Smart City will createa micro-economy of its own with companies from the entire ITindustry spectrum.

One of the key objectives of DIC will be to capitalize on theabundant human capital that exists in the state of Kerala. Bycreating a centre for technology anchored by some of the leadingglobal and regional names in the industry, DIC hopes to builda vibrant knowledge economy community in Smart City.

DIC will bring to the park the vast expertise it has gained indeveloping one of the word's most advanced IT business campuses.

These include capabilities in building and operating next-generationcommunication networks that reduce operational hassles and costsfor companies. The DIC campus in Dubai today has today the largestcommercial IP Telephony network in the world. In Smart City,DIC will also create a one-stop-shop of services necessary forIT companies to run their businesses. There will be a single-windowfacility for government approvals, including licenses and permits.

Other services that will be provided include telecom, hospitality,facility management and legal.

DIC will also develop programmes for Smart City companies thatthat can be leveraged by them to explore and expand channel andbusiness development opportunities.

Following the signing of the MoU, DIC will now conduct a detailedmarket study to identify the expectations of prospective companies.

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

As part of its 'Going Global' mission DIC is also currently intalks with authorities elsewhere in India, Pakistan, Iran andMalta to set up facilities in various cities.