Monday, June 14, 2010

SmartCity board to meet on June 28

KOCHI: Amidst continuing stalemate over the implementation of the proposed SmartCity Kochi project, yet another meeting of the board of directors of the company would be held here on June 28.

Unlike the initial board meetings which evoked much interest triggering hopes of the project taking off, the ones held in the recent past had been just to fulfill the mandatory formalities.

The issue of right to freehold over 12 per cent land to SmartCity, the Dubai-based promoters and the resultant stalemate over the registration of the land and Special Economic Zone notification had been keeping the project in a limbo for a long time now.

In between, arguments and ultimatums flew thick and fast between the stakeholders SmartCity and the governemnt dousing the hopes of the project materializing.

Meanwhile, the government, it is learnt, was working on a draft of an intimation to be sent to the promoters asking them to start the project without any further delay.

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