GIM Nets MoUs Worth Rs 26,000 Cr For Kerala

Kochi, January 20: | Updated: Jan 21 2003, 05:30am hrs
Kerala has signed memorandum of understandings (MoUs) for projects worth Rs 26,000 crore during the two-day Global Investor Meet (GIM) organised by the Kerala government here, which came to an end on Sunday. This was announced by Chief Minister AK Antony at a post-GIM press conference held here on Monday.

The state government would set up a mechanism for the fast-track approval and implementation of these projects, he added.

The Chief Minister said the meet had succeeded in attracting investment proposals to the tune of Rs 26,000 crore. This included the Rs 10,000 crore worth Central government sponsored projects announced by the Prime Minister, the 95 MoUs signed worth over Rs 11,000 crore, the expressions of interest (EoIs) for 12 projects worth over 1,700 crore and the pre-GIM initiatives which attracted investment to the tune of Rs 3,000 crore.

Mr Antony made it clear that despite the advise of disinvestment minister Arun Shourie to turn deaf to criticism, he would place before the Opposition all the projects that came up at GIM and then take a final decision.

The major investment decisions included raising the capacity of NTPC, besides the announcements of the Reliance group, Infosys, Microsoft, Sutherland and the e-City, being planed by a group of non-resident Keralites.

The highest number of MoUs were signed in by the Kerala State Industrial Development Corporation with four public sector enterprises worth Rs 4,260 crore.

Only nine foreign companies signed MoUs worth Rs 464 crore. Seventeen NRIs accounted for Rs 2,326 crore and 17 probable investors from outside the state singed pacts for projects worth Rs 907 crore. Entrepreneurs from within the state were keen on investments worth Rs 2,834 crore.