The construction of the first phase of Smart City Kochi project, spread over 6.5 lakh square feet in 60 acres, will start in July and would be completed in 18-20 months according to the promoters.
Addressing a press conference here on Monday, Baju George, Managing Director, Smart City Kochi said they expect project, at the end of first phase, to employ around 7000 people.
The building to be constructed at an estimated cost of Rs 160-175 crore, will have four floors of one lakh square feet each and would not block the waterfront view. Though the average space of a building in the city is in the range 30,000-50,000 square feet, Smart City Kochi offers abundant space for companies to operate, Baju George said.
“We will submit an application for environment clearance on June 15 and hope to get it by July first week. Hence we will be able to start the work by then. The piling work for the first bridge will commence in this week. In the first phase, we are also planning to build a boat jetty, cafeteria, health club and a yoga centre. Multi-level parking facility will also be provided. No tree will be cut as part of the construction work. We have made some improvements in the concept master plan of the project,” he said.
The total built-up area in the Smart City Kochi project would be 88 lakh square feet, out of which, 70 per cent will be dedicated to IT and ITeS sectors. The entire project has been planned in four clusters - IT, ITeS, Media, Finance and Research and Innovation.
Baju George said that Smart City Kochi has an authorised capital of Rs 670 crore, the promoters have invested Rs 192 crore each which will be enough to carry out the construction till 2014.
“We have approached banks for mobilising more funds and the talks are on. The efforts of NRI businessman M A Yusufali was crucial in taking the project forward,” he added.
Speaking on the occasion, Gijo Joseph, Chief Executive Officer, Smart City Kochi said that efforts are on to rope in a global brand to start operations in Smart City. Balasubramaniam, Assistant Director, Projects also participated in the press conference.
Smart Move by Gigo
Gigo Joseph, former Chief Executive Officer (CEO) of Infopark Kochi, has taken charge as the new CEO of Smart City Kochi.
He was the key force behind the development of Infopark for the past two years. Prior to his appointment in Infopark he was working with Infosys as Group Manager.
He played a key role in setting up infosys operations in Trivandrum. An alumnus of the National Institute of Technology (B. Tech), Calicut, he has an MBA from Northern Illinois State University USA and a Masters degree in Computer Science from Depaul University, Chicago, USA.