Kochi Smart City to be inaugurated on Saturday

Thiruvananthapuram: The first phase of Smart City project in Kochi will be inaugurated on Saturday.

The IT project is a joint venture of Tecom Investments, a subsidiary of Dubai Holdings and Kerala government which will have the status of special economic zone.

The first phase has built up area of 6.5 lakh square feet for housing IT companies and related facilities, built at a cost of about Rs. 400 crore. Most of the space has already been leased out to 27 companies which will employ about 5500 persons.

The announcement of development of second phase is also expected on Saturday. About one million square feet is expected to be added under the project in the next three years.

According to Tecom Investments, the Smart City will be a “complete ecosystem” with facilities such as shopping centres, hospital and school. The project will be completed by 2020.