KOCHI: Industries Minister E P Jayarajan on Saturday disclosed the government’s plan to set up a special cell headed by the industries secretary to woo investors to the state. Those willing to make investments of up to `100 crore will be allowed to start projects in a week through the cell, he said while inaugurating the 100 TPD Caustic Concentration plant and 60 TPD HCL synthesis unit at Travancore Cochin Chemicals (TCC), Udyogamandal on Saturday.
“ Would-be investors don’t have to submit the necessary documents within days of setting up shop. The prospective entrepreneurs need to do so only within a year of starting the project. With the help of the industrial boom, the government aims to generate more employment opportunities,” he said.
The minister pointed out that compared to small scale industries, the opportunity for large- scale industries was limited in the state.
“In the last four years, the state could attract investment worth nearly `6,000 cr through 63,000 MSME initiatives. However, instead of wooing investors, there was a campaign to discourage them. To turn the state into an investor-friendly destination, we changed the rules and regulations.We have even set up a single-window system to fast-track the process of granting permission for investors,” he said at the function presided over by Hibi Eden,MP.
According to E P Jayarajan, Travancore Cochin Chemicals had made a profit of `55.87 crore during the last fiscal. “ With the commissioning of the two plants, the government is trying to ramp up production of caustic soda to 250 TPD. If everything goes per plan, Travancore Cochin Chemicals can even export the product,” he said.