Kerala Receives Rs 7,000-crore Investment Proposals At GIM

Kochi, January 19: | Updated: Jan 20 2003, 05:30am hrs
Memorandums of understanding (MoUs) worth over Rs 7,000 crore were signed at GIM (Global Investor Meet), held in Kochi, according to the latest figures available.

The Nest Group on Sunday announced projects to the tune of Rs 3,000 crore for setting up a virtual university, growth venture fund and highway projects. The Reliance group signed an MoU for setting up the Thampanoor bus station and a marina at Ernakulam boat jetty with an investment of Rs 50 crore. This project will include setting up 20 retail petrol pumps for KSRTC and 10 such pumps for consumers. Reliance also announced setting up of Rs 20-crore Transport Nagars in cities across the state.

An MoU with Parayil Enterprises of the US was signed for setting up a Rs 15-crore integrated Food Processing Park for seafood, coconut mill and 3500-tonne cold storage at Aroor in Alappuzha, a GIM release said.

Binani Industries has offered to invest Rs 1,050 crore. The company will expand its zinc manufacturing facility in Kochi and set up a captive power facility. The initial cost is estimated at Rs 300 crore. In the second phase, the company will invest Rs 750 crore for upgrading its facility to 1,40,000 tonnes from the present 30,000 tonnes.

The Joy Alukkas group has announced setting up a Rs 400-crore one-stop mega market to cater to the marriage-related shopping. This will generate 3,000 direct employment possibilities.

The Great India Corp will set up a heritage resort in Munnar and a Spa resort in Thiruvananthapuram with Rs 35 crore. The Delhi-based Golf Paradise has signed an MoU to set up a golf resort in Thiruvananthapuram, Kochi and Chalakkudi at an initial cost of Rs 5 crore.

Consolidated Resorts, Dubai has agreed to set up 50 vacation homes, adventure tourism spots, holistic interactive health village and film village in Vagamon, Idukki at a cost of Rs 200 crore.

SCMS Group of companies has signed an MoU to set up an academic complex at a cost of Rs 35 crore in Kalamassery, Kochi. This includes a nursing institute, pharmacy institute and an international school.

Divine Holystic Hospital, near Nedumbassery Airport, has announced setting of Rs 10 crore heritage hospital in Kochi. With the signing of an MoU between KSIDC and the shipping division of WG Tower Group of companies, the long-awaited passenger shipping service between Gulf countries and Kerala is likely to take shape. Logistics Group, a New Jersey-based firm, signed an MoU with KSIDC to set up a CGFNS (Commission on Graduates of Foreign Nursing Schools) institute in Thiruvananthapuram, Kannur and Kochi.

Liberty Oil Mills signed an MoU for setting up a manufacturing unit in Kochi at an initial cost of Rs 20 crore for the production of edible oil.

Filatex Industries is putting up a HRLT (Heat Resistant Latex Rubber Thread) link in the Rubber Park, Kochi at a capital cost of Rs 10 crore. AGN Mac Auditors, a transnational auditor firm, has evinced interest in setting up offices in Kochi to attract and facilitate investments from West Asia to Kerala.