A memorandum of understanding for the implementation of the proposed Smart City Project in Kochi would be signed early September. The Dubai Internet City authorities have accepted the draft memorandum approved by the Cabinet a fortnight ago and invited State Chief Secretary Palatt Mohandas to sign the document in the first week of September. The draft, drawn up after mutual discussions, proposes establishment of world class information technology infrastructure, including a township on nearly 300 acres of land. The Infopark of the State Government (62.27 acres with buildings) will be handed over to the promoters for a payment of Rs.109 crores, part of which will be converted into equity. (The Government will have nine per cent equity participation in the company to be formed for the implementation of the project