The highest strike rate in India: Minister P Rajeeve
Projects exceeding Rs 35,111 Cr investment take off, to create 50,000 jobs
Marking a major milestone in Kerala’s industrial landscape, 100 projects yielded by the Invest Kerala Global Summit (IKGS) held earlier this year with a total investment of Rs 35,111 crore have got under way in different parts of the state so far.
A total of 499 LoIs, with a huge investment of Rs 1.80 lakh crore together, were received at the IKGS. So far, 276 projects have obtained land, out of which 100 projects have moved to the starting phase. This marks an impressive conversion rate of 36.23 per cent. The total investment of these 100 projects stands at Rs 35,111. 750 crore. They would together create 49,732 jobs.
The Warehousing and Industrial Park of the NDR Space at Aluva became the100th project to take off from the list of Letters of Intent (LoI) clinched at IKGS.
“Achieving a stellar strike rate of 100 projects taking off within a short span of time is indeed a record in the history of investment summits in the country,” Minister for Industries, Law and Coir Shri P Rajeeve said.
The formalities of the projects set to start next month are in final stages, the Minister added.
The projects which have already started include leading Italian visual communication major Dynimated and logistic company Avigna.
Adani Logistics Park, Bharat Biotech’s Life Science company, Sistrom, SFO Technologies, Gasha Steels TMT Plant, KGA International, Krishna Institute of Medical Sciences, Akosa Technologies, Vinvish Technologies, WGHS Hotel and Jacob and Rechard were among the ventures that signed LoI at IKGS.
The LoIs covered various verticals including tourism, IT, food processing, electronic component manufacture, pharmaceuticals, healthcare and wood-based industries.
Projects with investment of up to Rs 100 crore are monitored by the Department of Industries and Commerce. The projects exceeding an investment of Rs 100 are monitored by Kerala State Industrial Development Corporation (KSIDC) while KINFRA is monitoring projects based at KINFRA parks.
An advisory council chaired by the Industries Minister has been set up to review time-bound progress of the projects. Also, the priority panel of the Chief Minister is overseeing the progress of project implementation.
As many as 22 reforms have been initiated for speedy implementation of investment projects. A Special Task Force has been formed in the Local Self Governments Department to ensure that IKGS projects received priority.
