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Tecom orders audit into construction of SmartCity Kochi

Dubai-based Tecom Investments has ordered an audit into the construction cost of the first IT building of SmartCity Kochi in Kerala following allegations of various irregularities and corruption in the execution of the work.
Irregularities were reportedly found in the use of materials used for the construction of the 650,0000 sq ft first IT building complex at Kakkanad in Cochin. Reports said that steel and some other materials used in the construction were found sub-standard. The loss caused to the company by this is estimated to be to the tune of Rs300 million. The irregularities and corruption pertained to the period Giji Joseph headed SmartCity Kochi as its chief executive officer (CEO).
The resignation of Joseph from the position in June this year is said to be related to the allegations. Joseph had claimed that he had quit the post before completion of his term to return to the field of technology.
SmartCity CEO Baju George refused to comment on the allegations. He told the Khaleej Times that he would be able to say anything about the reports in the media only after the completion of the audit. He said that he had no personal knowledge of the issues in Cochin as he was based in Dubai.
"Audits are a normal process. We have both internal and external audit. The auditors will bring out if there is any misappropriation of accounts," Baju said adding that he was now fully focused on completing the building.
The first building, which is scheduled to be inaugurated between December 10 and 20, is fast nearing completion. The work on the second IT building with a built-up area of 6.3 lakh sq ft, is also expected to be launched simultaneously.
The first phase of SmartCity Kochi, a special IT economic zone, is expected to provide job to 6,000 persons. According to reports, 15 companies have evinced interest in moving to SmartCity.
news@khaleejtimes.com

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