KOCHI: INKEL Limited, a public-private-partnership firm, plans to invest Rs200 crore more at its business park in Angamaly. The first 2 lakh sq ft tower was fully sold out to seven firms including CML Bio Tech, Mallellil Polymers, Lijan Tech and Cochin International Language Academy.
The work on the next 2.5 lakh sqft Tower-II has been progressing well and the company has decided to construct two more towers of 2.5 lakh sq ft each in the due course for the benefit of Industrialists and Investors. The ultimate plan is a fully integrated Business Park of 2.5 million sq ft.
It was in 2007 that the Kerala government established INKEL with 26 per cent stake and the remaining shared by NRI and public investors. At present, the government holds 32 per cent share in INKEL.
The 30-acre land at Angamaly in Ernakulam district was handed over by the government in 2010 on a 90 year lease to INKID, a Joint Venture company of INKEL and Kerala State Industrial Development Corporation (KSIDC), at a rate of Rs1 cr per acre, which included registration and stamp duty.
INKEL Managing Director T Balakrishnan said the Company was witnessing tremendous response from the business community for the built-up space where it has developed all basic infrastructure facilities such as road, water and power to make it a ready to occupy space.
“We have so far invested Rs100 crore for developing the land and the remaining capital will be pumped in for constructing the rest of the Towers and its allied infrastructure,” he added.
INKEL offers business space at much lower rentals of Rs18 per square feet per month and Rs1,900 per square feet for long lease to the units, with the aim of attracting investors to start operations in the state, according to a press statement issued here. Plans are also underway to offer the development of the remaining Towers to private investors, on a joint venture mode.
Timeline
■ It was in 2007 that the Kerala government established INKEL with 26 per cent stake and the remaining shared by NRI and public investors
■ The 30-acre land at Angamaly was handed over by the government in 2010 on a 90 year lease to INKID