KOCHI: Calling it a “historic achievement” for Kerala, Industries Minister P Rajeeve said on Friday that the state has signed expressions of interest worth Rs 1.18 lakh crore, around USD 14 billion, at the World Economic Forum (WEF) in Davos.
The agreements were inked with 27 companies from countries including the US, UK, Germany, Spain, Italy, and South Africa, with major names such as Greenco Group (Rs 10,000 crore), Acme Group (Rs 5,000 crore), and Ramky Infrastructure (Rs 6,000 crore) featuring among the signatories.
According to the minister, the proposals span sectors such as renewable energy, data centres, the medical industry, and emerging technologies, and include projects like eco-town development and integrated industrial parks by Ramky Infrastructure, battery storage systems by Acme Group, data centre investments by Sify Technologies, and waste management initiatives by ReSustainability.
Other proposals include renewable energy and biofuel projects by Baidyanath Biofuels, Link Energy, and Zain West Caps Advisory, as well as ventures by Delta Energy in hospitality and healthcare.
Rajeeve said officials would be assigned to ensure follow-up action on the expressions of interest. He added that the Kerala delegation held face-to-face discussions with representatives of 67 companies on the sidelines of the Davos meet.
A breakfast meeting with CEOs was also held under the minister’s leadership, with 22 top executives taking part, he said.
Kerala also hosted a ‘Kerala Evening’ event to showcase investment opportunities to leading firms and international media.
The minister pointed out that at the Invest Kerala Global Summit held in Kochi last year, around 24 per cent of the signed expressions of interest have moved into the construction stage.
“In addition to that progress, Kerala has now signed fresh expressions of interest with major global companies at Davos,” he said.
Several firms cited Kerala being the first state in India to adopt an ESG policy as a factor encouraging investments, Rajeeve added.
A five-member delegation from Kerala, led by Rajeeve, attended this year’s WEF, including Chief Secretary Dr A Jayathilak, Industries Department Additional Chief Secretary APM Mohammed Hanish, KSIDC Managing Director P Vishnuraj, and KSIDC General Manager Varghese Malakara.
The minister said Kerala had showcased its investment potential at the previous Davos meet, and this year it could convert those engagements into signed expressions of interest.