Despite the global economic distress caused by COVID-19, projects with a total investment of ₹25,000 crore are set to be initiated in the State within a year.
A press release issued here on Thursday said 54 projects clinched investment decisions at ASCEND Kerala 2020 Global Investors’ Meet, of which seven had already gone on stream.
Another 16 projects with a total investment of ₹703 crore will be completed in three months and 15 ventures having an investment of ₹700 crore, in six months, said Minister for Industries E.P. Jayarajan.
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In addition to these, 23 ventures having an investment of ₹5,456.48 crore will be on track within a year, Mr. Jayarajan added.
Held in January
ASCEND Kerala 2020 was organised by the Department of Industries on January 9 and 10 in Kochi. The event saw participation of industrialists and entrepreneurs from India and abroad, the release said.
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The projects that have begun operation are Sharp Plywoods (₹8 crore), Agro Park (₹2 crore), Galaxy Aluminium Industries (₹5 crore), and Jaiza Pigment (₹24 lakh) in Ernakulam district; Sayas Kitchen, Haripad, Alappuzha (₹65 lakh ); Navya Bakes and Restaurants (₹16 crore) and SP Biocompost and Diesel (₹65 lakh) in Thrissur.