KOCHI: At a time when a tug of war is going on between Apollo Tyres Limited and Kochi Metro Rail Limited (KMRL) over the allotment of 1.5 acres of land for the Metro station, parking lot and piling works at Kalamassery, Apollo Tyres plans to construct a business centre-cum-shopping mall adjacent to the proposed station.
The state government has given in-principle approval for the project which aims to tap the full potential of the area once the Kochi Metro station comes up there. The company will either set up the commercial complex on its own or as a joint venture project.Earlier, the state government on February 25, 2014, had given permission to Apollo Tyres to utilise the 5.90 acres of land worth around `118 crore to establish a business centre-cum-shopping mall, conference hall, hotel and office space, with an estimated investment of `278.15 crore (excluding land).
Interestingly, even after various requests by the KMRL as well as the District Collector, Apollo Tyres was not ready to hand over the 1.5 acres of land for the Kochi Metro. The company management also declined to hand over three cents of land which was urgently needed for the piling works.
“We are not against any infrastructure development activities. In an indirect way, any such project will have a positive impact on our business as well. But before handing over the land to the Kochi Metro project, we need some clarifications from the government. There should be a win-win situation for both,” said Apollo Tyres vice-chairman and managing director Neeraj Kanwar.
The state government had acquired the 31.38 acres of land at Kalamassery in Thrikkakara North village and gave it to Premier Tyres Limited (PTL) in 1962 for establishing a tyre manufacturing factory.
Though the land was originally allotted to PTL, the company became a sick unit and it was taken over by Apollo Tyres Limited on April 17, 1995. The company had reported that it holds 28.75 acres of land after acquisition for NH-47 and by the Railways. Around 21.35 acres have been earmarked for the tyre plant and an area of 7.4 acres is left unutilised. Of this, the company has in-principle agreed to hand over 1.5 acres to the Kochi Metro Rail Corporation for setting up a railway station and car parking facility.
The company has submitted a project report to set up a commercial facility, including hotel, in the remaining 5.9 acres of land.
“The company has written a letter to the KMRL saying that the land could not be handed over until a government order is issued, clarifying the company’s doubts.
“Since it is a policy decision, the Cabinet will have to take a final decision on the issue,” KMRL authorities said.