Kochi, March 29 (Inditop.com) The board of directors of the Smart City Kochi at its meeting here Monday failed to resolve any of the issues that have stalled building of the IT park.
“Smart City Dubai, who has been served a letter by the state government, has told us that they would consult their lawyer and in the coming few days they would get back to us,” Fisheries Minister and chairman of Smart City Kochi S. Sarma told reporters after the meeting.
The government has opposed the demand of the builder, Smart City Dubai, for 12 percent freehold rights over the project.
In 2007, Smart City Dubai had signed an agreement to build the Rs.1,500-crore IT project and Chief Minister V.S. Achuthanandan had laid the foundation stone. But since then, nothing has moved despite several rounds of talks between the two sides.
