Dubai Holding-owned TECOM to exit 84 per cent stake in SmartCity Kochi

KOCHI: TECOM Investments, a subsidiary of Dubai Holding LLC, which owns an 84% stake in SmartCity Kochi, a 246-acre IT park in Kakkanad, is withdrawing from the project. The state government holds the remaining 16% stake in the project.

Contours of the withdrawal, including the compensation to be given to TECOM, will be decided by a government-appointed committee headed by the chief secretary. Industries Minister P Rajeeve said the committee will comprise the Kerala State IT Mission director, the Infopark CEO, and MD of Overseas Keralites Investment and Holding Ltd Dr Baju George.