Published 17:54 IST, June 25th 2020
Kerala Govt hoping to receive investments of about Rs 1 lakh crore for industrial parks
The Kerala Government on Thursday revealed that there were expecting investments into the Kerala Industrial Infrastructure Development Corporation (KINFRA)
Looking for ways to restart the state economy, the Kerala Government on Thursday revealed that there were expecting investments into the Kerala Industrial Infrastructure Development Corporation (KINFRA) for the projects that they were planning post-COVID. While addressing a press conference State Minister for Industries E P Jayarajan said that they had been promised an investment of over Rs 1 lakh crore for the state's industrial parks during a global investors meet.
"There is a possibility of more investors coming to Kerala, particularly after the COVID-19 and give a fillip to industries in the state. Currently, 25 KINFRA industrial parks with more than 800 odd industrial units are working here and the defence park spread in 60 acres in Ottapalam is coming soon. The total investment of this project is Rs 130.94 crore," he said.
Principal Secretary, Department of Industries, K Ellangovan while expanding into the details of the investments into the industrial parks said, "The defence park will be focusing on minor defence products including small firearms, parts of rifles and parts of missiles. Critical defence components are also planned to be made here. We have already got a proposal from the companies making parts of single-engine aircraft. This will be a private park facilitating requirement of companies operating in Defence production. This has the scope for attracting global companies."
The Minister added that a mega food park was already ready in Palakkad and a Petro-chemical park was under planning in Kochi, for which land had been acquired and an investment of Rs 1,200 crore had been earmarked.
Apart from investment for the development of the state's industrial parks, the Pinarayi Vijayan-led government is also looking towards improving basic infrastructure facilities like water, electricity, connectivity, transport facility and communication connectivity in the parks.
(With Agency Inputs)
Updated 17:54 IST, June 25th 2020