Reliance, Microsoft To Invest In Kerala

Kochi, January 18: | Updated: Jan 20 2003, 05:30am hrs
Central government, Reliance Industries, Microsoft and a host of information technology (IT) companies took the lead in announcing their investment plans in Kerala on Saturday at the first day of the Global Investor Meet being held here. Prime Minister Atal Behari Vajpayee said that the Centre would be investing close to Rs 10,000 crore in projects of public sector units (PSUs) like the capacity expansion of NTPC power station at Kayamkulam, upgradation of Bharat Petroleum Corporation's Kochi Refinery and mineral exploration jointly by NMDC and Indian Rare Earths Ltd.

Reliance Industries chairman Mukesh Ambani announced that the group would be investing close to Rs 1,000 crore in Kerala in the next three years. The bulk of the investment would be made by Reliance Infocomm for networking Kerala with its fibre optics as well as setting up 50 digital centres in the state. Reliance Petroleum would set up nearly 450 retail outlets in the state, he added. Software giant Microsoft would shell out a lion share of its Rs 100 crore investment in Kerala for funding its information training and dissemination project, Project Siksha,, senior company official said.

Other projects announced include a $ 10 million to $ 15 million ITES project by Sutherland Terch Roster which promises to give employment to 1,500 people. The project would be ramped up at a later stage, he added. GE CAP's IT services project and LB Tech's BPO centre.