The industrial park to be established by the Kerala Rubber Limited (KRL), a public-private partnership (PPP) company, is slated to be functional in three years.
As per the revised Detailed Project Report, the project, which will come up on 164.86 acres on the campus of the erstwhile Hindustan Newsprints Limited at Velloor, requires an investment of ₹253.58 crore. Works on the park will begin in May next year and on completion, it will generate up to 8,000 jobs.
It further states that the industrial park will greatly benefit rubber farmers in the State as it will stimulate production of natural rubber and creation of value-added products. It will also help in the processing of the materials and marketing of products.
65 industrial units
An official statement by the office of the Industries Minister P. Rajeeve said the plan was to make the park operational in two phases over a period of three years. The park will be able to accommodate around 65 industrial units. The KRL will provide the requisite infrastructure.
The project envisages establishing an industrial park for natural rubber-based industries with an emphasis on the MSME (Micro, Small & Medium Enterprises) sector. The facility will also feature centres for product demonstration centre, tyre testing, sterilising and business incubation, besides warehouse, tool room, single window clearance system etc.
Among the units that the park will accommodate will also include manufacturing units for surgical and industrial gloves, medical devices and products of rubber-based industries like tyres and mats.
The DPR was handed over to Mr. Rajeeve by Sheela Thomas, Chairperson and Managing Director, KRL, along with K.N. Raghavan, Executive Director, Rubber Board. Suman Billa, principal secretary, Industries Department and S. Harikishore, MD, KSIDC , were present.