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VS' Stand Against Dubai Company Proved Crucial in SmartCity Growth
The New Indian Express Kochi
|July 22, 2025
VS strongly opposed firm's demand for freehold rights over project land as leader of Oppn
Former Chief Minister V S Achuthanandan's stand—particularly his opposition to giving incentives to Dubai-based TECOM Investments—played a crucial role in the conceptual stages of the SmartCity Kochi project, then worth ₹1,500 crore. Eventually, TECOM went on to hold 84% stake in the venture.
As the leader of Opposition in 2005, VS built a strong campaign against the then Chief Minister Oommen Chandy's proposal to set up a multi-crore IT park on nearly 250 acres at Kakkanad, highlighting several clauses detrimental to the state's interests. A major point of contention was TECOM's demand for freehold rights over 12% of the land meant for the project.
When the LDF government headed by VS came to power in 2006, it was determined to protect public assets and held hard bargains with TECOM.
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