Kerala govt to showcase over 100 projects to global investors

To attract industrial investments and provide a thriving environment for enterprises in the state, the Kerala government has readied more than 100 projects that would be showcased to potential investors at the upcoming ASCEND 2020 Global Investors Meet. Organized by the Department of Industries, the event is scheduled for January 9-10 next year at Lulu Bolgatty International Convention Centre, Bolgatty Island, here.

The big-ticket projects - a minimum of 60 projects from the Industries Department and 40 from other government departments/agencies -- would be presented before the prospective investors, the organizers said in a press release here. These projects span diverse sectors ranging from infrastructure, petrochemicals, defense, and agro & food processing to electronic hardware, tourism & hospitality, port & harbor, and acropolis.

The other sectors in which attractive projects have been formulated are life sciences, fisheries, and mobility transport, the release said. The government said it has initiated new policies and procedures to make the Ease of Doing Business easier, tweaked the industrial policy, revised the land assignment rules and introduced an electronic platform for hassle-free interactions with the investors, industrialists, and entrepreneurs.

"Kerala is witnessing a paradigm shift for harnessing industrial investments in the state. It now ranks second among Indian states in the World Bank Investment Climate Index. We will aggressively pitch project profiles and the recent amendments to industrial licensing procedures at ASCEND 2020 to position Kerala as a hotspot for attracting investments from India and abroad, said Industries Minister E P Jayarajan. Among the major projects is Phase-III of Kochi Metro Rail Project for extending the metro rail from Aluva to Angamaly with airport connectivity and operation, management and development of Trivandrum International Airport through public-private partnership (PPP).

Also proposed is a petrochemical park exclusively for the petrochemical downstream industry on the FACT (Fertilisers and Chemicals Travancore) premises at Ambalamugal, which is expecting investments in the field of the automobile industry, plastic industry, pharmaceuticals, textiles, and consumer durables. The other projects in the petrochemical sector include a PVC manufacturing facility of 150,000 TPA capacity and setting up a manufacturing unit of the superabsorbent polymer of 60,000 TPA capacity in Kochi.

Another ambitious project is the Electronics Hardware Park, which is proposed to be set up on 100 acres of land in Amballur with KSIDC as the nodal agency. It aims to promote the manufacturing and assembling of electronic hardware and is estimated to attract investments worth Rs 650 crore through the manufacturing and assembling of electronic equipment.

Kerala is also trying to foray into defense sector in a big way by setting up KINFRA Defence Park that would be manufacturing rotary and fixed-wing aircraft, navigation technology, tactical vehicles, submarine-building, a naval warship, defence IT systems, space robotics maintenance, microsatellites, and unmanned systems, the organizers said.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)