Monday, April 24, 2006

Smart City Agreement

Finally Govt of Kerala has published this, since just last few days.


It is just 5,000 jobs in 5 years
15,000 jobs in 7 years
33,000 jobs in 10 years
all on cumulative basis

The lease of the Lease Land shall be for a term of ninety nine (99)

years and the Lease Deed shall inter alia provide for the following


(a) The consideration for the lease shall be Rupee One (Re 1) per

acre per annum, payable annually in advance;

On Employment Generation

The lease of the Lease Land on the aforesaid terms and on the
concessional rate is granted on the basis that TECOM. undertakes and
guarantees that the SPV, along with the other operating companies
within the Smart City shall together create and provide for at least
33,300 direct jobs
in the Smart City in addition to the number of
existing jobs as on Execution Date and jobs to be created in Infopark
buildings and jobs to be created by Wipro and Leela group in their
leased plots of 25 acres and 5 acres respectively, over a period of 10
years in phases as follows or pay penalty for short fall in jobs in the
manner as provided in clause 8.2 of this Agreement.-
i) Within 5 years of the Closing Date, 5,000 jobs.
ii) Within 7 years of the Closing Date 15,000 cumulative
jobs and
iii) Within 10 years of the Closing Date 33,300 cumulative

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