Kochi: INKEL’s Business Park at Angamaly is on its way to becoming a prime business development spot and investment destination with the first of its large, state-of-the-art office towers leased out and a second ready to be commissioned in the next three months.
Offering strong social and physical infrastructure, and good connectivity with the State’s commercial capital Kochi and other major areas, the park’s advantageous location has been proving attractive to investors. The 2 lakh sq. ft. Tower I at the business park has been leased out already.
“We have been witnessing a tremendous response from the business community for the built-up space, where we have developed all basic infrastructure facilities to make it a ready to occupy space,” said INKEL Managing Director, T Balakrishnan.
Kerala Academy for Skill Excellence (KASE), in association with Eram group, has leased out a major portion of the Tower I to set up a skill development academy, ‘ESPOiR’, a first-of-its-kind institution aimed at equipping youngsters for jobs in oil and gas companies.
INKEL has also rolled out plans for INKEL Business Park – Tower II, which will be commissioned within three months. The 2.5 lakh sq. ft. built-up space will provide companies with office spaces having ample power and water supply.
“We have so far invested Rs 100 crores for developing the land. Rs 45 crores was invested in constructing Tower I and the remaining capital will be pumped in for constructing the rest of the Towers and its allied infrastructure,” said Balakrishnan.
It was in 2007 that the Government established INKEL with 26 per cent stake, the remaining shared by NRI and Public investors. At present, Government holds 32% share in INKEL. The 30-acre land at Angamaly in Ernakulam district was handed over by the Government in 2010 on a 90-year lease to INKID, a Joint Venture company of INKEL and the Kerala State Industrial Development Corporation (KSIDC), at a rate of Rs 100 lakhs per acre, which included registration and stamp duty.
Plans are also underway to offer the development of the remaining Towers to private investors, on a joint venture mode.
Kerala Biz News