Real estate deal behind Kerala Cabinet decision to cancel Kochi Smart City project, alleges Opposition Leader
The Hindu
Kerala's Leader of the Opposition accuses LDF government of land parceling to real estate giants, demands transparency and accountability.
Kerala’s Leader of the Opposition V.D. Satheesan has alleged that the ruling Left Democratic Front (LDF) government planned to parcel out 246 acres of prime land in Kochi to real estate giants close to the Communist Party of India (Marxist) [CPI(M)] leadership “under the cover of” cancelling the Smart City project at Kakkanad in Kochi.
At a press conference at his official residence, the Cantonment House in Thiruvananthapuram, on Thursday (December 5, 2024), Mr. Satheesan said the Kerala Cabinet’s decision to repossess the land it had accorded to Tecom Investments, a Dubai-based holding company, for constructing a ‘Smart City’ was “a precursor” to the dubious move.
Mr. Satheesan said the Oommen Chandy government had initiated the project in 2011. Tecom promised to create an expansive IT park with 6 lakh sq ft of built-up space and allied facilities at an estimated cost of ₹2,000 crore. The scheme promised to generate 90,000 jobs.
Subsequently, Mr. Satheesan alleged that the LDF governments failed to follow up on the agreement or review the progress, causing the project to stall indefinitely.
Mr. Satheesan said the Cabinet furtively cancelled the agreement with Tecom without any politically bipartisan consultations. Moreover, he questioned the government’s decision to compensate the company that failed to execute the project. Mr. Satheesan demanded that the government offer more clarity on what went wrong.
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