Quote:
Originally Posted by DileepKS
In the past year, a lot of land had been purchased by unknown people around the suburbs, extending from Vaikom to Perumbavoor to Angamaly. The general line of thinking was it was Terrorism/fake currency related.
It seems now that it was in fact by the big players. One of such areas is near Udayamperoor. Wouldn't be surprised if a mega project comes up there.
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Good point. Sobha has bought 100s of acres near Manjali (en route Paravur). This is
confirmed news from a local person. Unitech holds over 250 acres at Parakkadavu.
Actually Unitech has confirmed that it holds close to 700 acres in Kochi in their IPO
prospectus. Where are these lands ?
Meanwhile, KMC, Pramod,
I read in news that there is a distinct possibility of both JB consortium and TECOM
going ahead with their parks. See the quoted news below.
Neither JB nor DIC has made any demand that additional projects should not be promoted
in the area and DIC would certainly have taken into account the possibility of
competitors when it offered 90,000 jobs in 10 years.
What I feel is that Govt is likely to give go ahead to DIC first as they were the
first to approach and the deal has been clinched almost. Under this circumstances
if JB persists they may also get green signal. But expect JB to offer around 60,000 jobs
in return at best.
Quote:
JB Group joins race for IT park
Staff Reporter
Company officials submit proposal to VS
THIRUVANANTHAPURAM: The JB Group of companies headquartered in Hong Kong has joined the race for setting up a Smart City IT Park project in Kochi, even while there are reports that discussions with the Dubai-based TECOM Group on the project are in the final stages.
...
Addressing a press conference here, the JB Group officials said they would be happy to set up their proposed IT park project in the Smart City Project area itself.
``Ours is demand-driven project proposal and we would not be averse to the idea of setting up the IT Park in another area provided there was demand for a second project.''
They said they proposed to the Chief Minister that the Group would be willing to take the 100 acres of land for the project on lease for 99 years, at the rate of Rs.85,000 a cent. So the total land cost would run into Rs.85 crore. The lease period could be extended on mutually agreeable terms to the Government and to the JB Group.
They said they offered to the Chief Minister that the State Government could have an equity participation of 26 per cent in the project.
Constructed area
Total constructed area of the proposed project would be about seven million square feet.
Out of that five million square feet would be used for setting up enterprises engaged in IT and IT-Enabled Services (ITES) sectors.
...
According to them, the project was proposed to attract an investment of Rs.1,500 crore and provide employment opportunities to about 100,000 people.
They claimed that the Chief Minister had responded favourably to their proposal and had asked them to submit a detailed plan. `'We hope to meet the Chief Minister again with a detailed plan within a fortnight.'' The hindu Story
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Quote:
$1.7-bn JB packs a smart twist to Tecom Kochi tale
ECONOMY BUREAU - Fin. Xpress
THIRUVANANTHAPURAM, MARCH 13 : It's a "head I win - tail I win" toss for Kochi. Enter $1.7-billion JB Group from Hong Kong to Kerala this week with a Rs 1500-crore IT project, giving a dicey twist to Dubai Tecom drama dragging over $300-SmartCity in Kochi.
...
If the DPR (detailed project report) is accepted, we expect to sign the agreement straightaway, instead of dithering over the MoU, claims the Infiniti Consulting Corporation team.
But it's not necessarily exit Dubai-Tecom and its SmartCity project or vice versa, assures Gautam Kanjilal. We are not bargain-hunters," says Kartik Somaiah, Key Account Manager (Asia Pacific). Unlike in the Tecom case, even without bargaining, the new entrants have offered the state government 26% equity.
It was the study by ICICI properties identifying Kochi as the second top destination in high-end IT business that put JB Group on Kochi trail. "We'd been watching Kerala from 2001 and feel time is ripe to make our bid," says Kanjilal.
Fin Express story
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