Dubai, May 13, 2007(WAM): Opening another horizon of businesspartnership between India and UAE, SmartCity,a joint venturebetween TECOM Investments and Sama Dubai, and the governmentof Kerala signed today the final agreements to establish SmartCityKochi at a ceremony held in Trivandrum, capital of Kerala.

Modelled on the Dubai Internet City and the Dubai MediaCity, SmartCity Kochi is expected to attract investment fromIndian and global conglomerates.

The landmark agreement ending three years of speculationwas signed, in the presence of VS Achuthanandan,the Chief Minister of Kerala, by Ahmad Bin Byat, Executive Chairmanof TECOM Investments and Lizzie Jacob, Chief Secretary of theGovernment of Kerala. Also present were Farhan Faraidooni, ExecutiveChairman of Sama Dubai, Abdullatif Almulla, Chief Executive Officerof TECOM Investments and Fareed Abdulrahman, Executive Directorof SmartCity.

SmartCity Kochi will be one of India's largest businessparks. Covering 1 million square metres of land, the projectwill create an infrastructure and environment for knowledge-industrycompanies - primarily IT and media related firms - to grow andflourish, based on the successful models of Dubai Internet Cityand Dubai Media City.

"The SmartCity Kochi project comes ata time when Kerala is on the threshold of a new phase of knowledge-basedeconomic development. Knowledge-based industries are increasinglydriving the state's economic growth and we are committed to enhancingthe conditions for this sector to grow.", the Chief MinistersaidBin Byat said: "The agreement we have reached is a win-win situationfor both of us and the Government of Kerala. It is a milestonedeal filled with great promise. Partnering with the Governmentof Kerala and the industry, we will develop SmartCity Kochi intoa new hub for excellence in knowledge-based industries.

"We look forward to working with all stakeholders to completea successful project. We require the constant support and commitmentof the government at every stage. We are confident that the rapportwe have established with them will enable us to work closelyat each step.", he added SmartCity Kochi is projects as a place for some ofthe best companies from India and across the world to explorepartnerships, collaborate and cross-fertilise ideas.

"Of special focus for us will be the IT-enabled servicessector, which has seen a huge boom in India. We seek to createa platform to contribute to this sector's climb up the valuechain.", Bin Byat said.

SmartCity Kochi will be the first Indian city that willform part of the global SmartCity network. It is expected thatglobal and national players, a number of which have already demonstratedsignificant interest in the project, will focus their India operationsand business through SmartCity Kochi.

Faraidooni said: "Considering the promise that Kerala'sIT sector shows and the overall growth in Indian knowledge-basedindustries, the project has considerable potential. The complementaryfit of TECOM Investments and Sama Dubai along with the expertiseof our local partners will ensure the creation of a world classproject that meets the highest global benchmarks of quality andtechnology." SmartCity Kochi will bring about new employment opportunitiesin knowledge-based industries as well as in the areas of administration,hospitality, consultancy, construction, tourism, retail and logisticsamong others.

SmartCity will leverage its relationship with successfulclusters like Dubai Internet City and Dubai Media City to raisethe interest and secure the participation of global IT and mediabrands in SmartCity Kochi.