SEZ status cleared for $350 million Kochi Smart City

Kochi, Kerala, June 20, 2007 - The Centre has granted SEZ clearance for the $350 million Kochi Smart City promoted by the Kerala Government and Dubai based TECOM Investment. The project aims to develop 88 lakh sq.ft of built-up space and supporting infrastructure for IT and ITES firms and can generate 90,000 jobs over the next 10 years. The Kerala Government will have an initial stake of 16% that will increase to 26% after 5 years.