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Kerala launches hunt for urban ‘partners’

After the global investors meet (GIM) it organised in 2012 failed to attract big ticket investments, the Congress-led United Democratic Front government in Kerala on Monday launched a search for small investors to improve amenities in the urban areas of the state.

While most of the projects worth a total of Rs.2.4 trillion showcased at the GIM named ‘Emerging Kerala 2012’ still remain without takers, the ‘Partner Kerala’ meet kicked off by Federal Minister for Overseas Indian Affairs Vayalar Ravi at Cochin on Monday is showcasing 84 projects worth only Rs.65 billion.

The Partner Meet has been envisaged by the state government to help 60 municipalities, five corporations and the five development authorities, which are facing shortage of funds, to develop various pending infrastructure projects with the support of private players under the PPP model.

The two-day meet targets individuals, especially non-resident Indians, who want to have a stake in the growth of their home towns and cities and thereby contribute to their local communities. A total of 500 investors from within the country and abroad are taking part in the event. Investors interested in the projects will get an opportunity to hold talks with the corporations and municipalities concerned at the meet.

State Minister for Urban Affairs Manjalamkuzhi Ali said the government will take steps to ensure speedy clearance for the projects as per the prescribed rules and regulations provided they are self-sustainable and strengthen the economic base of the urban local bodies while ensuring inclusive and equitable growth through large-scale employment and income generation.

The projects being showcased meet cover areas such as waste management, sewerage, flyovers, bridges and parking lots, bus terminals, comfort stations and markets; amenities like shopping complexes, convention centres and multiplex cinema halls and amusement parks, besides parks, town beautification, street lights and hoardings.

Calicut figures top among the districts that have come up with a variety of projects that could change the face of the region. The Calicut Development Authority alone has come up with projects worth over Rs28 billion. They include Palayam Area Re-development (Rs8.65 billion), Mananchira Area Development Project (Rs2.8 billion) and Parking Plaza at South Beach (Rs900 million).

While the Trivandrum Corporation is showcasing projects related to waste treatment and multi-level parking plazas, the Cochin Corporation and the Greater Cochin Development Authority are focusing on shopping malls, convention centres, sports complexes and passenger ropeway.

Besides these, the Vytilla Mobility Hub Society at Cochin is showcasing the second phase of the hub’s expansion project to make it a convergence point of road, metro rail and water transportation modes. The project costing Rs4.33 billion will also make Vytilla a major commercial hub in the city.

Chief Minister Oommen Chandy will address the meet and interact with the investors on the second day of the meet on Tuesday.

news@khaleejtimes.com