Emerging Kerala evokes Rs.40,000 crore
investment interest
Saturday September 15, 2012 08:16:05 AM,
IANS
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Kochi: The three-day
Emerging Kerala 2012 Global Connect conference ended Friday
evoking 45 specific project proposals with investments of over
Rs.40,000 crore.
Speaking at the valedictory function of the conference Chief
Minister Oommen Chandy 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.
Chandy said 43 business proposals were discussed between Kerala
and the companies from UK, USA, Japan and Canada.
He said the Emerging Kerala event attracted 4,676 participants.
"The government is also bringing out necessary amendments to the
Single-Window Clearance Act, including making the application
process online for effective and faster clearance," Chandy 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," Chandy said.
The chief minister 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.
Chandy later said that the government would soon send notices to
private parties to take back the land allotted to them by the
government if their projects have not taken off.
Delivering the valedictory address, K. Sankaranarayanan, governor
of Maharashtra, said: "The first and foremost concern of any
investor is political stability and continuity of policy.
Businesses cannot operate in an atmosphere of political
instability. Political stability is a precondition for good
governance."
Urging Kerala to send a strong message to investors that the
government means business, Sankaranarayanan said a stable
government, strong political leadership and consensus among all
political parties will go a long way in creating a favourable
atmosphere for investment.
Kerala's Minister for Industries P.K. Kunhalikutty told IANS that
the government does not plan to attract investments offering tax
incentives like many other states.
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