Newsletter from Kerala State Industrial Development Corporation 2 High speed rail corridor gains momentum
4 Dividends of transparency
Vol.1 Issue 3 July 2010
6 Interview: Anchoring development
Light on the hill
KSIDC’s Industrial Growth Centres propel industrialisation of backward areas
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Valiya Velicham IGC is all set to become the engine of growth of Kannur district
mployment to 1600 people, facilities for creating another 1400 jobs; Industrial units that use raw material sourced predominantly from local areas; Availability of basic facilities including power, water, roads and an effluent treatment plant; Excellent connectivity to the National Highway network. Welcome to the Industrial Growth Centre that Kerala State Industrial Development Corporation has set up at Valiya Velicham, near Kuthuparamba in Kannur district, symbolising KSIDC’s commitment to industrialisation of the State.
Spread over 253 acres of land, the IGC was created from scratch. The biggest bottleneck was the narrow, 6 km road connecting the IGC to the State Highway at Kuthuparamba. Recognising the role of good roads in attracting quality investors, KSIDC went ahead and widened the road, spending Rs 4.5 crore. At present, 19 units have been allotted land at the Centre. The big two, Marian Apparel Private Ltd and Rubco, have already started functioning at the Centre while the others are at various stages of implementing their projects. KSIDC has identified the Centre ideal for units based on rubber, rubber
wood, apparel, light engineering, PVC, food processing, furniture and coir. It has earmarked an exclusive 35-acre area for housing rubber-based units. It is also building a park on 50 acres to house up to 100 small scale industrial units. The Apparel Park at the centre is spread over 40 acres and houses a 60000-sq.ft Standard Design Factory in which an apparel manufacturing unit employing 1100 people functions. Another 60,000 sq. ft facility will be added soon to the SDF for which takers have already registered. KSIDC has assigned the construction of another Contd. on page 8 >>
High-speed rail corridor gains momentum The Delhi Metro Rail Corporation (DMRC) will conduct a feasibility study on a high-speed southnorth rail corridor connecting the State capital Thiruvananthapuram and Kasaragod. The study will start in August and will be completed in six months, Kerala Industries Minister Elamaram Kareem said after a meeting with DMRC Chairman E Sreedharan. The Minister said the study will cover the route, the cities to be connected and the time required to complete the project. It has been estimated that completion of each kilometre of the 20-metre-wide corridor will cost Rs 70 crore. The State government has already appointed KSIDC as the nodal agency for the project.
NeST electronic city in one year
The Kochi-based NeST group is setting up a Rs 2,500-crore electronic manufacturing hub on 30 acres of land in Kinfra Park at Kalamassery. The 30 lakh sq.ft NeST Electronics City will be a full-fledged township and will host a 10 lakh sq. ft Electronics Park, to be used exclusively for electronic hardware manufacturing, designing and tooling centres. An international convention centre, exhibition centre, a five star hotel and a residential complex will also be part of the project. The first phase of the project with Special Economic Zone status is expected to be operational within one year, and will directly employ 10,000 people.
Titanium sponge unit to be ready this year The Titanium Sponge unit of Ker2
ala Minerals and Metals Limited (KMML), at Chavara in Kollam will be commissioned in December. About 70 per cent of the infrastructure works of this unit has been completed, Industries Minister Elamaram Kareem told Kerala Assembly. The Indian Space Research Organisation (ISRO) funds the project. The Minister told the Assembly that the State’s industrial growth rate of 9 per cent last year was higher than the national average. More than 25,000 small and medium industrial units were registered in the past four years in the State.
SEZ status for Infopark extension project
A meeting of the Board of Approvals (BoA) of the Union Ministry of Commerce granted Special Economic Zone (SEZ) status to about 31 acres of land identified for the expansion of Infopark, Kochi. The State government has allocated Rs 50 crore towards infrastructure development schemes for this purpose. The domestic park will offer the first plug and play BPO facility in the State, as many MNCs and national BPO companies showed a keen interest to set up office there. It will also house a recreation centre comprising gyms, cinema halls, health spas and other amenities. Infopark currently employs around 10,000 professionals and hosts reputed IT/ITES companies such as Wipro and TCS.
Kerala Travel Mart from September 23 The sixth edition of Kerala Travel Mart (KTM) will be held in Kochi from September 23 to 26. One of the biggest tourism expos in India, the biennial KTM aims at offering stakeholders in the travel and tourism sector a platform to showcase their wares before an international audience. Tour operators, service providers, travel agents, airlines, event managers and travel writers are expected to attend the meet, which would be held at Bolghatty Palace. Around 400 participants from the State and an equal number of international buyers from Germany, France, Britain, South Africa, Malaysia, Singapore and South Asian countries will attend the buyer-seller event.
Indo-Taiwan trade to get a boost Business delegation visits Taipei, explores new markets for seafood industry
Indian trade delegation at Food Taipei, an international expo showcasing the Taiwanese seafood industry.
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n an attempt to boost trade rela- Kerala along with David Hsu, Director, tions between India and Taiwan Economic Division, on March 4, 2010. and to explore new marketing av- They visited Seafood Exporters Associenues for the Indian seafood industry, ation of India (SEAI) and held discusa delegation of business representatives sions. The Taiwanese Ambassador had and senior officials visited Taipei. explained various business opportuniThe delegation, led by Alkesh Shar- ties in Taiwan suited for Indian busima, IAS, Managing Director, KSIDC, nesses, especially in the seafood sector. held discussions with Amit Narang, He said Taiwanese business houses Deputy Director-General, India-Tai- were interested in investing in India pei Association, and representatives of on their own or through the joint venTaiwanese companies in the seafood, ture route and pointed out that Cinda manufacturing and ingredients indus- Engineering and Construction Private tries. Ltd, the main civil The week-long KSIDC clears Rs 64 cr contractor for the visit began on June LNG terminal projfor eight projects 21 and coincided ect in Kochi, is the A meeting of the board of Kerala with Food Taipei, Indian arm of the State Industrial Development an international Taiwanese construcCorporation has cleared loan apexpo showcasing tion major. He had plications totalling Rs 64.76 crore the Taiwanese seaalso visited the work for eight projects in the State. The food industry. The site with officials of projects are in diverse sectors such delegates also visKSIDC. as infrastructure, tourism, sea food ited Kaohsiung, the India’s seafood and food processing. The total inindustrial capital of business with Taivestment approved for these projTaiwan, and held wan, especially exects is Rs 369.14 crore. discussions with ofport of value-added ficials of Fisheries products, has seen Administration on the fish processing a significant growth in the last few technology. years. The new initiative comes at a The visit of the Indian delegation time when the Indian seafood industry follows the invitation extended to the faces problems from the traditional exindustry when Philip Wen-chyi Ong, port markets such as Japan, European the Ambassador of Taiwan, visited Union and the United States.
From MD’s Desk
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SIDC is entering the golden jubilee year of its formation. Formed in 1961 as part of a national initiative to create special arms for the industrial development of States, KSIDC has always endeavoured to meet its mandate. It is with immense pride that my colleagues and I look at our past performance. We have taken the lead in the industrialisation of the State by handholding companies and institutions which today are the posterboys of Kerala industry. Cochin International Airport Limited, Geojit BNP Paribas, CGH Earth, OEN India, Lakeshore Hospital, Nitta Gelatin... the list of successful and pioneering institutions KSIDC has helped create is fairly long. We are committed to continuing with the work the Kerala society expects of us. In this golden jubilee year, we will come out with a lot more new initiatives and projects, which would accelerate the pace of development in Kerala. One of the mandates of KSIDC is to create industrial infrastructure which would attract large-scale investments and create jobs. The setting up of four Industrial Growth Centres in industrially backward districts of Kannur, Kozhikode, Malappuram and Alappuzha was part of our attempt to meet this mandate. The parks, at various stages of completion, have already created interest among entrepreneurs, as you have read in the main story in this edition. I am sure these Centres, when completed, will become the moving forces of the local economy. I invite interested entrepreneurs to get in touch with us. We would be happy to extend full cooperation so that their projects take off without a hitch. There is also a report on the development projects centred around the Cochin Port Trust. I am sure their timely completion will take us to the group of industrially advanced States in India. The growth story of Geojit BNP Paribas should cheer the Kerala industry and encourage it to go forward. I solicit your feedback at mdksidc@vsnl.net Alkesh Sharma 3
Dividends of transparency Geojit BNP Paribas has proved that it pays to travel the path of transparency and honesty. Stock broking is no exception! Geojit’s growth is no accident. Rather, it is a dividend for the risks the company took in a risk-prone industry.
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inners don’t do different things,” proclaims Shiv Khera, self-improvement guru. “They do things differently.” C J George, managing director of Geojit BNP Paribas, is one such winner. Consider this: • When most stock brokers paid their customers in cash (in those heady days of ’90s), Geojit and Co paid through cheques. • When others fought shy of dematerialising shares, Geojit jumped at the new form when it was introduced. • When every other broker was also a trader himself, George has owned no shares except those of Geojit. • When every broking company incentivised trading by paying commission to their officers, Geojit said no, saying it would tempt them to root for unnecessary trading. • When everyone employed subbrokers, Geojit employed franchisees, so that Geojit is accountable to clients. • When every company filled the alleys of the town with their branches, Geojit hiked the hilly villages, spreading the message of equity culture. ‘Gambling is injurious to wealth’ could be an ironic adage for a stock 4
broking firm, but not for Geojit BNP Paribas. More so for C J George, its managing director. George, synonymous for transparency in Indian stock broking industry, and the company he started in 1987, have always been known for taking the road less travelled. And earning its dividends. George started Geojit and Co in Kochi with his friend Ranajit Kanjilal in 1987 after quitting the stock
broking company he was working for. At a time when many in the profession were dishonest operators cheating their customers, Geojit opted the honest and transparent route. And it paid off. Geojit has today over 520 offices in 300 cities across India and more than Rs 9700 crore worth assets under management. It runs more than 160 franchisee offices which have increased its reach to remote areas. It has an unbroken history of paying annual dividends ever since it went public in 1994 and became Geojit Securities Ltd. French financial powerhouse BNP Paribas last year chose to align with Geojit in India, recognising its standing among the stock broking companies in one of the fastest growing
The timely push
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KSIDC aid made the difference
eojit BNP Paribas is one of the crown jewels of Indian industry that KSIDC helped create. “My association with KSIDC started in 1994 at a critical time in the life of Geojit,” says C J George, managing director. “It was the time when National Stock Exchange was offering membership for a total investment of Rs 2 crore. I did not have the money, but knew that conventional stock broking was on the way out, and the technology-driven NSE will be the leader one day.” George approached KSIDC for assistance at a time when stock-broking was not a first choice for a lender. “But the far-sighted professionals in KSIDC made a presentation before their Board of Directors. The discussion resulted in the KSIDC picking
up 24 per cent equity in Geojit for Rs 50 lakh.” The membership paved the way for the future successes. Transparency has been the key to doing business with KSIDC, he says. “At a time when the KSIDC board decided to sanction such a big share assistance (in those days) for an untested entity, I knew not one of the directors. The respect that I have for KSIDC stems from the belief that it has always encouraged genuine and professional entrepreneurs.” “I have had an extremely pleasurable relation with KSIDC,” he said. “Even now, if I have a need for funds, my first choice would be to go back to KSIDC. I can vouch for one thing: you don’t need an introduction to do business with KSIDC.”
“Even now, if I have a need for funds, my first choice would be to go back to KSIDC. I can vouch for one thing: you don’t need an introduction to do business with KSIDC.” economies of the world. Geojit’s growth is no accident. Rather, it is the dividend for the risks the company took in a risk-prone industry. But while taking every such risk, Geojit ensured it fully complied with laws and set standards for the industry. Transparency and honesty, not very popular terms in the stock market of the ’90s, have been key to Geojit’s operations all these years. George, the CEO, never bought or sold shares for himself, and always paid his customers through cheques. His company has always been an early bird when it came to adopting technology. It was one of the first companies in India to become a depository participant of National Securities Depository Limited; the move helped it keep shares in the demat form and service the clients better. It was one of the first members of the National Stock Exchange from Kerala when it was launched. It was one of the first Indian stock brokers to install VSAT terminals; in 2000, it had the largest number of them. Geojit created a milestone in Indian stock market in 2000 when it became the first company to launch online trading. Franchisee was another fresh idea with which Geojit expanded its network. According to George, it helped him reach out to a larger spectrum of people in various cities across India without bearing the establishment and overhead costs. “But we ensured that the business is done in the name of the company,” says George. “This has
The alchemist
How Rs 10,000 can grow to Rs 12.4 lakh Geojit BNP Paribas has set another benchmark for Kerala companies: it is by far the smartest creator and distributor of wealth. Someone who had invested Rs 10,000 to buy 1000 shares when Geojit launched its IPO in 1994 would have so far earned Rs 1,33,450 as dividend. Moreover, his shares will be worth Rs 12.4 lakh today! (During the bull market of 2007, it went up to Rs 52 lakh).
ensured full protection to the investor.” Venturing into villages with the concept of franchisees was another such lead the company took. “We try and spread the message of equities among farmers, labourers, artisans and teachers in upcountry areas with little exposure to equity markets. We tell them that investing at least 10 per cent of their investible funds in equities is a wealth-multiplier. True, customer education is a time-taking and costly option, but by the time it starts working, we will be miles ahead of competition (see box).” Today, Geojit is the only Indian brokerage firm with a license for retail securities transaction in UAE and Saudi Arabia. The socialist moorings in George’s upbringing have made a lasting impression on his outlook towards wealth and its ownership. “I do not think of myself as the owner of this company,” he says with a rare disinterestedness, visibly contented with his company’s achievements in the past two decades as he sips green tea within the relaxed interiors of his office. “My wife and children may have visited this office perhaps a couple of times,” he chuckles, referring to his arm’s length policy. It is not that all Geojit initiatives have succeeded. It had to wind up the Financial Planning Centre it opened at Mulanthuruthy, a village on the outskirts of Kochi, with the idea of spreading the message of investment options. Professionals qualified to advise investors on financial planning manned the centre, which had no trading terminal. But people were unwilling to pay a price for such a service. “We had woven a lot of dreams around it. We had planned to open such centres in every panchayat if it succeeded.” George does not rue the decision, though: “Perhaps it was an idea whose time had not come.” Investor education, however, has not vanished from his mind, as he firmly believes that well-informed investors who can take a long-term view on the economy are the backbone of the equity market. The company has already selected people from among its
employees through an examination to train and place them as advisors at the
Cultivating investors
Farmers in front of the trading terminal at Geojit branch in Alakkode in Kannur district. lakkode is a farming village in the northern Kerala district of Kannur. It has very little industrial activity; upmarket financial services are not offered here as it does not figure on the radar of the finance street’s big boys. But Geojit is here, offering stock market services and financial advice. “We started operations in the first half of 2010 with an investor awareness meet,” says Sudheer Kumar, regional manager (Kozhikode), Geojit BNP Paribas. “About 30 people attended the meet. Except for a few who had an idea about commodities market, they had no clue on the idea we were marketing.” Today, 25 of those 30 are Geojit customers. “As much as 90 per cent of them are farmers,” says Sudheer. Buoyed by the success of the experiment, the company is planning to have another, large scale awareness programme, he said.
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branches. Only they will be authorised to talk to customers, George said. “It is said that all it takes to succeed in the stock market is nine people’s patience and one person’s intelligence. We are preparing people to be patient, and we shall have intelligent people to advise them.” Where is Geojit headed for? “I would not like to talk about my future plans,” he admits candidly. But he would talk about the industry with a visionary’s zeal: “I foresee there will be radical changes in the way financial markets function. Broking will be part of larger asset management and stand alone broking companies would not survive. We have clear idea of the way forward, and we are preparing ourselves for it. And we will be in the frontline of the emerging business.” He will do it differently this time around also. And emerge a winner. 5
Interview
N Ramachandran, Chairman, Cochin Port Trust
Anchoring development T
he role of Cochin Port in Kerala’s economy is without parallel, as it was the gateway to the global market for centuries. In these highly globalised times, the Port assumes a larger role and has anchored a series of developmental projects which are critical to the future development of the State. Enterprise and Industrial Update talked to Cochin Port Trust Chairman N Ramachandran on these projects and the future of the Port. Ramachandran, an IPS officer of 1978 batch, has been at the helm of the Port since 2005. Many of the Port’s landmark projects such as Vallarpadam ICTT took off during this period; many others are waiting in the wings. Moreover, with the support of the State government, he ended the unethical labour practices that prevailed at the Port for years. Excerpts from an interview: Cochin Port touched a record cargo throughput last financial year. How do you view this? What are the Port’s strengths now? The Cochin Port had an all-time high cargo throughput of 17.43 MMT in 2009-10, registering a growth of 12.5 per cent over 2008-09. This record growth is only the beginning of a future growth trajectory. This year we have already had an increase of 25 per cent over the last year. This is the result of specific strategic initiatives, focusing on key areas like oil and containers. The Single Point Mooring (SPM) project, the International Container Transhipment Terminal (ICTT) and oncoming projects like LNG Re-gasification plant and Multi User Liquid Terminal (MULT) are the culmination of this initiative. What is the progress on the ICTT project? The ICTT is the biggest project of the 6
In the medium and long term, focus will be to evolve SEZ as a processing centre to facilitate value addition of our conventional exports and also develop an importprocess-export format.
Cochin Port. It envisages developing Cochin as the transhipment hub for national and international cargo. The project had its own share of problems, primarily relating to delays in clearance and land acquisition. However, as on date, road and rail connectivity has been established, and the terminal is ready for operation within a short period. How is the Port planning to make up for the loss of business when the ICTT starts handling containerised cargo? The ICTT is a container terminal of Cochin Port. The operations in the present container terminal will migrate to ICTT. There is no loss of business. In fact, there is only gain as ICTT is a transhipment terminal where cargo originating from and destined to other regions will also be handled, apart from domestic cargo. There is scope for utilising the present container
terminal for handling general and liquid cargo. The Port has appointed the Indian Ports Association as a consultant for evaluating the alternative use of the container terminal. What is your assessment of the impact of ICTT on Kerala economy? What more needs to be done to take the maximum advantage of the new facility? The ICTT will have a very big positive impact on Kerala’s economy. It will provide direct long haul access to foreign destinations for Kerala’s products. The terminal will promote the setting up of supporting industries like container freight stations (CFS), processing centres, transport services, etc. It will also provide direct and indirect employment to a very large number of people. Consolidating the gains and progressing further will require political will on curbing unfair labour practices and providing an investment friendly atmosphere. What are the development activities happening in and around the terminal? We are setting up a 1200 MW power plant in Willingdon Island. Two Special Economic Zones (SEZ) are also coming up. A recreation centre for the shipping fraternity is on the anvil with five star hotels and other leisure-based activities on its premises. We hope to make scientific use of the cryogenic cold energy from the LNG in the re-gasification plant to provide for non-potable water for the port area (see box). Merchants and other establishments in and around the terminal too will benefit from the increased traffic along Vypeen and Puthuvypeen areas. All in all it’s a win-win situation for the city and its trading community. What is the status of the SEZ you have planned in Cochin? What will be the focus area of these SEZs? The Cochin Port has initiated two SEZs – the Vallarpadam SEZ and the Puthuvypeen SEZ. The Vallarpadam SEZ accommodates the ICTT. The ICTT will develop the region as a cargo consolida-
tion point. It is expected that there is potential for CFSs and logistic parks in the proximity. The SEZ will also focus on exploiting the bunker demand to ICTT. In the medium and long term, SEZ will evolve as a processing centre to facilitate value addition of our conventional exports and also develop an import-processexport format. The Puthuvypeen SEZ is being developed as an energy zone. Petronet LNG Limited is setting up an LNG regasification terminal in this zone. BPCL’s Kochi refinery has set up tank farms associated with their SPM project. Indian Oil Corporation is setting up an LPG import facility to cater to the LPG needs of Kerala. A Multi User Liquid Terminal is being developed to provide landing facilities for LPG import. The terminal will also provide loading/unloading facilities for other liquid cargo. What are the strengths that entrepreneurs should see in these SEZs? An exporter will make tremendous savings in logistic costs. Direct shipping will save time and money and will offer definiteness in transport schedules. An importer gets the cheapest prices for import cost of his raw materials sourced from abroad. For quality sensitive exports like sea food and spices, the processing in the proximity enables quick and easy transfer to the port which brings down disturbances in addition to reducing inland movement cost. Cochin Port had an image problem with respect to unethical labour practices. What is the status now? Unfair labour practices and cartelisation of logistics services have been the bane of Cochin Port for many years. These have been quashed successfully, with the support of various stakeholders, including the State government, labour and trade interests. The media has also been very helpful in establishing a businessfriendly environment. The competitiveness of the port has improved a lot due to these initiatives. What the port lacks today is adequate mechanisation which can make the port
LNG terminal, a source of water! The LNG terminal in Kochi will not only power the industrial development of the State but will also offer a steady source of water. You may have noticed formation of water drops on the surface of a bottle containing cold water when it is placed in a humid atmosphere. This is because when water vapour comes into contact with a cold body, it condenses and become water drops. A similar process will occur when the LNG terminal in Kochi becomes operational. The LNG will be brought to the terminal in ships at cryogenic temperature (-160oC). When it is regasified, the cold LNG pipes will come into contact with the humid atmosphere in Kochi and condense it, resulting in the formation of water. Though this water is not potable, it can be used for all non-drinking purposes. The cryogenic temperature of the LNG can also be used for refrigeration and air-conditioning needs in the vicinity of the LNG terminal.
more productive and competitive. Why the stress on these development projects? As you will appreciate, Cochin Port is not supported by a vibrant hinterland, which will promote import or export. The only way to break this vicious circle is to promote development of the hinterland through strategic initiatives, which in turn can promote the growth of the port also. It is in this background that Cochin Port has embarked upon development projects like the ICTT. Kerala is also the favourite location for tourists. Therefore, Cochin Port has proceeded on developing an International Cruise Terminal cum Public Plaza, which will generate a steady source of income not only for the Cochin Port but also for the entire economy of Kerala.
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SDF of 1 lakh sq ft for apparel manufacturing units. Thomas P Olickal, managing director of Marian Apparel Pvt Ltd, is planning an expansion of the unit which will double the number of employees from the present 1,100. “The spacious SDF with all amenities and the effluent treatment plant are the key attractions here,” he said. “We have smooth labour relations as well; we faced no issues in the last three years. On the other hand, I must compliment the employees for their grasping power, which is higher than that of employees from anywhere else” he said. He is waiting for the proposed hostel to come up so that outstation employees can be housed on the Park premises.” With the commissioning of the SSI park, new SDF and a working women’s hostel, the number of employees in the IGC is expected to cross 3000.
Infrastructure
Power At present 630 KVA power is available at the IGC for which a transformer has been installed. Work on drawing a dedicated 11 KV line and setting up another 110 KV substation at the IGC is on. Water KSIDC has readied a water supply system with a capacity of 5 MLD of water drawn from the nearby river with intake well, pipeline, water treatment plant and overhead tank, pumps and DG sets at a cost of about Rs 6 crore. The system is now being overhauled to meet the increasing needs of the units operating at the Centre. Roads Constructions of internal roads ex-
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The growth story
SIDC has developed four Industrial Growth Centres in the State under the IGC Scheme, 1988, of the Government of India. They are located at Cherthala (278 acres), Kinalur (308 acres), Panakkad (258 acres) and Kuthuparamba (251 acres). The IGCs are aimed at the development of industrially backward districts of the State. All IGCs are provided with basic industrial infrastructure facilities such as roads, water, power and administrative buildings. Land is allotted to prospective entrepreneurs in 8
tending about 2.15 km including culverts have been completed. Effluent treatment The IGC has set up an effluent treatment plant with a capacity to process 2 lakh litres of effluents per day. Buildings Apart from the SDF, the park has an administrative block building for the operation of common facilities. Factfile Total area: 264 acres Nearest Airport: Kozhikode International Airport – 120 km (about 30 km from the proposed Kannur airport) Nearest Railway Station: Thalassery (21 km). Nearest ports: Mangalore (110 km), Vallarpadam ICTT(300 km) Best suited for: Apparel, light engineering, rubber, food processing industries. the form of industrial plots and built up areas. The other growth centres Cherthala, Alappuzha district Focus areas: Coir clusters, marine/ silica/cement-based projects, engineering, educational projects. Kinalur, Kozhikode district Focus areas: Food, rubber, healthcare, footwear. For more information on growth centres, please contact: +91 471 231 8922 website: www.ksidc.org
For the health of industry KSIDC JV to set up educationhealth park at Malappuram IGC
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NKEL-KSIDC Projects Ltd, a joint venture between KSIDC and Infrastructures Kerala Limited (INKEL), is planning to set up an international educational hub and medical city at the Industrial Growth Centre, Malappuram. To come up on 250 acres of land at Panakkad, 30 km from Kozhikode airport, the project comprises units in healthcare, medical, technical, vocational and management education, R&D centres in pharma and bio-technology, international school, residential area, hospitality and a multi-services park. INKEL has commissioned an international consultant for conducting the feasibility study of the project which is expected to take off in 2011 and will be commissioned in six years. The overall estimated project cost is Rs 2000 crore. The JV will be the master developer and will take up all the basic infrastructure development in a phased manner at an approximate cost of Rs 200 crore. All other zones are open for private investors where they can take the land on long lease and plan investments.
For private circulation only. Prepared by Independent Media (+91 484 2423331) for Alkesh Sharma, Managing Director, Kerala State Industrial Development Corporation Ltd, Keston Road, Kowdiar, Thiruvanathapuram-695 003. Executive Editor: K G Ajith Kumar. The opinions expressed in these columns need not necessarily reflect those of KSIDC.