Kerala sees fresh investment of Rs 1 lakh-crore: CM Vijayan

Kerala sees fresh investment of Rs 1 lakh-crore: CM Vijayan

Agency News

Kochi, Jan 10: Kerala sees fresh investment of Rs 1 lakh-crores going by entrepreneur feedback at ASCEND 2020 Global Investors Meet, Chief Minister Pinarayi Vijayan revealed on Friday at the conclusion of the event held with the aim of lending pace to ‘Ease of Doing Business’ in the state.

Of the amount, Rs 98,708 crores comes in as direct promise during the two days of ASCEND, while there are “a couple of entrepreneurs whom we happened to miss” at the event but have expressed their willingness to invest, the Chief Minister said amid cheers at the Lulu Bolgatty International Convention Centre.

Overall, the just-concluded event received 164 investment proposals. Across the sessions at ASCEND 2020 came in such promises worth Rs 32,008 crores and, towards the end, the Kerala Infrastructure Management Ltd vowed Rs 8,110 crores, while the Abu Dhabi Investment Authority promised investments of Rs 66,900 crores. The government will also approach some investors who couldn't make it to the event but have expressed willingness to invest, individually and seek their support. This could take the proposals to Rs. 1 lakh crore, Vijayan said.

Among other prominent investment promises received are Kitex group- Rs.3500 crore, MSME Consortium-Rs.2050 crore, Joy Alukkas-Rs.1500 crore, Ashique Chemicals and Cosmetics-Rs.1000 crore, Aerotropolis Kannur-Rs1000 crore and Delwan group, Qatar-Rs.1000 crore.

A team led by Principal Secretary (Industries) Dr K Ellangovan has been entrusted with this task, the CM said. ASCEND 2020 saw 100-odd projects, ratified by KPMG as viable, presented across sectors such as petrochemicals, agro and food processing, defence, life sciences, aeropolis, tourism and hospitality, ports and harbours, fisheries, infrastructure, mobility development, logistics and electronic hardware. (UNI)