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Chandy woos investors to develop projects in Kerala

Special Correspondent
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Top priority for development of infrastructure projects, says Kerala Chief Minister

On a mission: Kerala Chief Minister Oommen Chandy arriving at the CII Southern Region's summit in Hyderabad on Wednesday. - Photo: Mohd. Yousuf
On a mission: Kerala Chief Minister Oommen Chandy arriving at the CII Southern Region's summit in Hyderabad on Wednesday. - Photo: Mohd. Yousuf

Kerala Chief Minister Oommen Chandy urged investors to partner with his government in developing world-class infrastructure in Kerala and mentioned that many projects were being taken up under the Public Private Partnership (PPP) mode, including the Rs.77,000-crore High Speed Rail Corridor connecting Tiruvananthapuram to Kasaragod and Mangalore.

Addressing CII Southern Region's two-day annual summit on ‘Sustainable PPPs in Infrastructure, ‘Suminfra-2011', with the theme “Strengthening PPP in Southern Region: Securing the future”, he said the Kerala Government accorded top priority to the development of infrastructure and had already initiated an investment promotion drive, ahead of the ‘Emerging Kerala Investor Meet' to be held for three days at Kochi from April 19, 2012.

He said the Delhi Metro Rail Corporation (DMRC) had completed the pre-feasibility study on the ‘High Speed Rail Corridor' project and “we are working on the business models in a PPP mode.” Stating that roads, rails, seaports, airports, pipelines for natural gas, power plants and water supply were being developed at a very fast pace, he said the government encouraged PPP to develop its infrastructure base. It was also proposed to set up a 1,200 MW gas-based power plant at Cheemani in Kasaragod district at an estimated cost of Rs.4,500 crore.

Another major project was the Cochin-Coimbatore Industrial Corridor covering three districts of Kerala and Coimbatore district in Tamil Nadu. The project estimated to cost Rs.23,500 crore would be developed with the help of the Government of India and the private sector.

It would have an influence area of 10,000 sq. km. with a total land area of 5,500 hectares. Attractive packages would be offered to get more investments to the State, he added.

Earlier, addressing the inaugural session, Chairman and Managing Director, India Infrastructure Finance Corporation Ltd., S.K. Goel, said the private sector's investment in infrastructure sector in the 12 {+t} {+h} Plan was likely to be around 50 per cent of the total estimated investment of $ 1 trillion. J.P. Nayak, president of Larsen & Toubro, wanted the States to develop a single gateway model for quicker clearances and called for greater transparency and accountability in the execution of the projects.

A.Venkateshwar, vice-president of Tata Projects, said that Andhra Pradesh was leading the way of infrastructure projects in PPP mode with about 40 per cent of the total outlay of infrastructure projects. Suchitra Ella, vice-chairperson, CII Andhra Pradesh and Joint Managing Director, Bharat Biotech International Ltd., delivered the concluding remarks.


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