KOCHI: A day after the Invest Kerala Global Summit (IKGS), the state government has announced concrete follow-up plans to ensure that the Rs 1.53 lakh crore investment proposals unveiled at the two-day event are closely tracked and that projects are realised.
Addressing a news conference, Industries Minister P Rajeeve termed IKGS a “game-changer” for Kerala and said the government has been receiving more investment proposals even after the event. The proposals will be reviewed and those finalised will be announced by the government in two weeks, he said on Sunday.
The minister said that projects involving capital below Rs 50 crore would be handled by the Directorate of Industries and those beyond Rs 50 crore will be taken care of by the Kerala State Industrial Development Corporation. Those under KSIDC will be divided into seven sectors and a panel of 12 experts will be appointed to analyse the activities in each sector.
Furthermore, a mobile application has been launched by the government for companies that participated in the summit to use as a platform for interaction. Information on land availability at the Kinfra-KSIDC industrial estate will be uploaded in the application.
Additionally, private entities can also upload details of land available for industrial establishments on the app. Details of 10 campus industrial parks to be launched by the government will also be published.
The proposals that came up after the summit include a $50 million investment proposal by Cherry Holdings, a Rs 500 crore project for a sports and management research institute, and a proposal by EM Constructions for a Rs 2,800 crore project.
Ravi Pillai’s RP Group added Rs 2,000 crore to its investment plans, taking the total to Rs 4,000 crore. Kaynes Technology presented a proposal for a Rs 500 crore flexible PC (printed circuit) board manufacturing unit and an electronics manufacturing cluster on 30 acres of Travancore Rayons Ltd land in Perumbavoor.
“Some Taiwanese companies that participated in the summit are interested in visiting electronics manufacturing units in the state to analyse capacity building. The Tata group will organise a capacity building consultation with other small companies. Many proposals related to Cochin Shipyard have emerged,” Rajeeve said.