Emerging Kerala attract investments over Rs 40,000 crore

Kochi 14-09-2012: The three day 'Emerging Kerala' global investor meet, aimed at showcasing the state as an investment hub, concluded here, attracting investment proposals of over Rs 40,000 crore, said CM.speaking at the valedictory function

CM said "I am pleased to inform you of 45 specific project proposals with investments of over Rs.40,000 crore, including BPCL's (Bharat Petroleum Corporation Ltd.) Cochin Refinery expansion and the joint venture project of Rs.18,000 crore, Volkswagen's Engine Assembly unit with an estimated cost of Rs.2,000 crore, a hospital and pre-cast concrete structure manufacturing unit for an amount of Rs.570 crore and a solar energy plant of Rs.500 crore."

He said the Confederation of Indian Industry (CII) has already announced setting up of a Centre of Excellence in Entrepreneurship in Kerala and added that 43 business proposals were discussed between Kerala and the companies from UK, USA, Japan and Canada.

BPCL today inked a Memorandum of Understanding with the state government for providing certain tax concessions for the expansion activities.

A total of 555 proposals were discussed at various Business to Business (B2B) and Business to Government (B2G) meetings at the summit.

According to the CM, the 142 proposals deliberated at the B2G meetings would be taken up for further consideration immediately and a final decision would be taken "within 90 days".

"Not even a single piece of land was sold or given on lease. Still, the Opposition boycotted 'Emerging Kerala' for the sake of boycotting...," he said.

"We will further strengthen the entrepreneurial ecosystem to accelerate this transformation by providing infrastructure in the form of a technology innovation zone in about 10 acres of land in Kochi with an initial investment of Rs.100 crore," CM said.

The CM added that the government would come out with a student entrepreneurship policy, which would provide 20 percent attendance and four percent grace marks to students engaged in entrepreneurship during their study.