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Kochi's free trade zone project hits hurdle
Thursday, 13 January 2005, 20:30 IST
THIRUVANANTHAPURAM: Plans to set up a 
15 billion ($340 million) free trade zone in Kochi by the Dubai Internet City (DIC) have hit a snag, Kerala Chief Minister Oommen Chandy said Wednesday.
"The DIC has now put up certain demands that would be vetted by a six-member high-level committee headed by a chief secretary," he said.
"At this moment, I would rather keep their demands to myself as we are not interested in creating problems. The committee has been asked to look into their demands and report it to the cabinet.
"Though the proposal would generate close to a 100,000 new jobs, the state's interests also have to be kept in mind," Chandy said.
"The Dubai team will arrive next week and will meet me. By then we would have a clear picture on whether their terms and conditions would be acceptable to us."
Former state industries minister P.K. Kunhalikutty had announced in December that DIC had evinced interest in setting up a free trade zone called Smart City in Kochi after ruling out other cities in southern India.
Reportedly, the DIC put up a list of 25 conditions for going ahead with the project, including handing over of 1,000 acres of land to it in Kochi. This, reports say, has created a roadblock.
Source: IANS
15 billion ($340 million) free trade zone in Kochi by the Dubai Internet City (DIC) have hit a snag, Kerala Chief Minister Oommen Chandy said Wednesday.
"The DIC has now put up certain demands that would be vetted by a six-member high-level committee headed by a chief secretary," he said.
"At this moment, I would rather keep their demands to myself as we are not interested in creating problems. The committee has been asked to look into their demands and report it to the cabinet.
"Though the proposal would generate close to a 100,000 new jobs, the state's interests also have to be kept in mind," Chandy said.
"The Dubai team will arrive next week and will meet me. By then we would have a clear picture on whether their terms and conditions would be acceptable to us."
Former state industries minister P.K. Kunhalikutty had announced in December that DIC had evinced interest in setting up a free trade zone called Smart City in Kochi after ruling out other cities in southern India.
Reportedly, the DIC put up a list of 25 conditions for going ahead with the project, including handing over of 1,000 acres of land to it in Kochi. This, reports say, has created a roadblock.
Source: IANS