KOCHI, Kerala, 16 Nov 16th, 2007 (WAM): The foundation stone for SmartCity Kochi, the self-sustained knowledge-based industry township being developed in the southern Indian state of Kerala, was unveiled today by the state's Chief Minister, V. S Achuthanandan, and Ahmad Bin Byat, the Executive Chairman of TECOM Investments and Chairman of the Board of SmartCity. The project is being developed by Dubai-based SmartCity in partnership with the government of Kerala.

The ceremony, held at the SmartCity Kochi site in Kakkanad, Kochi, was attended by over 5,000 guests including ministers, government officials and business leaders.

The Chief Minister of Kerala, V. S. Achuthanandan said: 'The SmartCity Kochi project is at the forefront of Kerala's aspirations to develop into a knowledge-based economy. With its world-class infrastructure, environment and support systems, SmartCity Kochi forms part of the key building blocks necessary for the state's knowledge-based industry growth. In this respect, the project's foundation stone ceremony is a significant occasion in the economic transformation of the state.' To be developed by SmartCity, the joint venture company formed by TECOM Investments and Sama Dubai, both members of Dubai Holding, SmartCity Kochi will be one of India's largest business parks. The project is based on the successful models of Dubai Internet City, Dubai Media City and Dubai Knowledge Village.

The government of Kerala has transferred 246 acres of land to SmartCity as part of the agreement signed in May this year. The project is expected to have a significant impact on the local economy, offering multiple benefits. With the potential to create 90,000 jobs, SmartCity Kochi will be a vibrant community anchored by leading global, regional and local names in the industry.

Ahmad Bin Byat said: 'We seek to develop SmartCity Kochi into a major new hub for excellence in knowledge-based industries. Through our partnership with the government of Kerala, SmartCity Kochi will open several new avenues of growth, specifically in the IT and IT-enabled services (ITES) sectors. The project will be a significant component of our global network of knowledge-based industry townships that we propose to develop around the world.'Apart from a state-of-the-art business-community infrastructure, SmartCity Kochi will include a dynamic range of retail, hospitality, residential and recreational facilities that drive productive business as well as a quality lifestyle.

Abdullatif Al Mulla, CEO of TECOM Investments said: 'There will be several synergies and complementarities between SmartCity Kochi and TECOM's clusters like Dubai Internet City, Dubai Media City and Dubai Knowledge Village. The linkages between these clusters will enhance each other's international reach and provide greater global opportunities for companies in both projects.

Fareed Abdulrahman, Executive Director of SmartCity, said: 'SmartCity Kochi is being designed to provide a balanced and highly growth-oriented environment. Companies will benefit from high-quality infrastructure and support systems while knowledge workers will have the ideal environment to work, network and share ideas.'SmartCity has also signed a deal with the government of Malta to develop SmartCity Malta. Malta and Kochi are the first two cities to be part of the global SmartCity network.