Inkel to invest Rs.5,000 crore in infrastructure projects in Kerala

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Tvm: Infrastructures Kerala Limited (Inkel), will invest Rs.5,000 crores in the next four years to support the basic and industrial infrastructure in Kerala. The Government has given in-principle nod for ten projects which is expected to get clearance by the end of this financial year. The fund will be raised through equity and borrowings from financial institutions and some of the directors of the company have expressed interest to invest in feasible projects.

Former Industries Additional Secretary and now Managing Director of Inkel, T Balakrishnan has said that the projects would be implemented with the direct investment of the company, public private partnership (PPP) model or private investments. The projects which were given the nod by the government include logistic centre at Angamaly, education-cum-health centre at Malappuram and convention and exhibition centre at Kozhikode. The government will finalise the decision on the ten other proposed projects soon and the physical works are expected to start after one year of getting the clearance.

According to the plan, all the projects can be completed in four years’ time if there are no hindrances. Modernisation of treasuries in Kerala has already been taken up by Inkel and the pilot project is being implemented at Pala, Kottayam. Renovation and construction of 80 treasuries will also start soon.

Referring to the waste management crisis under several local bodies, Balakrishnan said that Inkel has the technical expertise on solid and liquid waste management. This was informed to the government and local bodies and also proposed to invest in the waste management, if needed. The Rs.100 crore company is also planning to increase its capital to Rs.200 crore.

The multi-storied industrial building at Angamaly with 40 units will be commissioned by May 2012. The five industrial sheds at Malappuram with 10,000 square feet each will be commissioned by the end of February.

Kerala Biz News

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