20.8% of proposed projects at Invest Kerala Global Summit are operational: P. Rajeeve

Eighty-six projects with a total investment of ₹31,429.15 crore which were promised at the Invest Kerala Global Summit in February this year have become operational till now, Industries Minister P. Rajeeve said here on Friday.

Speaking at a press conference on the progress of the projects for which Expression of Interests were received at the summit, he said that out of the 424 projects with a total investment of ₹1.77 lakh crore, work on 20.8% have begun.

According to Mr. Rajeeve, on the completion of the 86 projects, 40,439 jobs are expected to be created. Out of the remaining projects which are yet to be started, 268 have already got the required land while 156 are yet to get land. Among those which got land, a total of 29 projects require land conversions or various exemptions to go ahead with their work.

Speaking further on the plans for the months ahead, he said that projects worth ₹1,500 crore will begin operations in July, while projects worth ₹1,437 crore are expected to begin in August. A total of ₹1,011 crore investment projects have come across all the eight Kerala Industrial Infrastructure Development Corporation (Kinfra) parks.

“In July, projects worth ₹1,500 crore will commence while in August ₹1,437-crore investment projects are expected to begin. A total of ₹1,011-crore investment projects have come in all the eight Kinfra parks,” he said.

Mr. Rajeeve said that the foundation stone for Bharat Biotech’s new project will be laid at the Kerala State Industrial Development Corporation (KSIDC) Park in Angamaly. Adani Logistics will set up a logistic park in Kalamassery at a cost of ₹600 crore. IBM has taken over two floors of the Lulu IT Twin Towers, developed by the Lulu Group, at SmartCity, Kakkanad. With this centre becoming operational, Kerala will become one of the biggest centres of the company in India with over 5,000 employees.

A dedicated Advisory group, chaired by the Industries Minister, has been formed for monitoring project implementation, coordinating across departments and resolving issues swiftly to enable seamless execution. Principal Secretary, Industries, is the Vice-Chairman and KSIDC MD is the convener of this body, which has representatives of industry and trade bodies, renowned industrialists, and senior government officials as members. The committee meets every two months.

The industrial land web portal, https://industrialland.kerala.gov.in has been launched to create a database of land available in the State for industrial purposes, said the Minister. A five-step escalation protocol has been introduced to ensure the timely resolution of investor issues. These include: initial resolution at the nodal officer level, engagement with concerned departments, formal communication if unresolved, escalation to the Secretary level. and, if still pending, final escalation to the minister concerned.