Invest Kerala Global Summit: 86 projects worth Rs 31,429.15 cr have begun, says Minister Rajeev

As many as 86 projects, with a total outlay of Rs 31,429.15 crore, for which Expressions of Interest (EOIs) were received at the Invest Kerala Global Summit (IKGS) held in Kochi this February, have commenced in the state so far, State Industries Minister P Rajeev said here on Friday.

''As many as 424 investment projects worth Rs 1,77,731.66 crore were received at IKGS and after the summit. Of these, 20.28 percent of projects have already started construction,'' Rajeev told a press conference here.

According to the Minister, once these 86 projects are completed, around 40,439 jobs are expected to be created.

Of the total number of 424 projects yielded by IKGS, 156 need to get land, while 268 of them have already obtained land.

''In July, projects worth Rs 1500 crore will commence, while in August, Rs 1,437 crore investment projects are expected to begin. A total of Rs 1011 crore investment projects have come in all eight KINFRA parks,'' he said.

KSIDC Managing Director Mir Mohammed Ali, KSIDC Executive Director Harikrishnan R, and KINFRA Managing Director Santhosh Koshy Thomas were also present.

According to an official release, BlueStar Realtors' Rs 600 crore project in Kalamassery, Ernakulam, Canyo Health's Rs 400 crore project in Cherpulassery, Palakkad, and Kaynes Technology India's Rs 500 crore project in Perumbavoor, Ernakulam, are set to start in July.

These projects are expected to create around 3800 employment opportunities, it said.

The projects that will take off in August include Green Worms Waste Management in KSIDC Park, Kannur (Rs 117 crore); Renai Medicity in Thrissur (Rs 500 crore); Nitta Gelatin's manufacturing plant in Ernakulam (Rs 250 crore); Dr Rajeev Healthcare and Research in Kollam (Rs 120 crore); Indiana Hospital in Kannur (Rs 200 crore) and NDR Space in Aluva, Ernakulam (Rs 250 crore).

These projects are expected to generate 3350 job opportunities, it said.

Among the major projects slated to start in July, the foundation stone will be laid for Bharat Biotech's new project in KSIDC Park in Angamaly. Besides, Adani Logistics will set up a logistics park in Kalamassery at Rs 600 crore.

Work on seven investment projects were started in May this year. Out of this, HiLITE group has begun work on four multiplexes and two residential projects, together with an outlay of Rs 9,998 crore, and generating 1,500 jobs, the release said.

A dedicated Advisory group, chaired by the Minister for Industries, has been formed for monitoring project implementation, coordinating across departments, and resolving issues swiftly to enable seamless execution.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)