To attract major private investments, eight new private industrial parks are coming up in Kerala. The Kerala government has rolled out a major financial assistance scheme to promote the private industrial parks which will emerge as key economic growth promoters in the coming years.
With the work on eight private industrial parks beginning in the state, Kerala Industries Minister P Rajeev on Sunday took to Facebook to announce the state government’s success in winning the confidence of private organisations to start industrial parks in the state.
“The Left Democratic Front government is the first to introduce and implement the concept of private industrial parks in Kerala. Though a policy was formulated during the previous government, it wasn’t implemented due to some technical problems. But the second Pinarayi government not only solved these problems within a year of coming to power but also assured financial assistance of up to Rs three crore to those starting new private industrial parks,” Rajeev wrote in the FB post.
The Minister said the construction of all the eight parks will be completed within a year. “There will be several small and big investments in these parks. We are also expecting construction of private industry parks in all 14 districts in the state this year itself,” he added.
As per the Private Industrial Estate Scheme – 2022, a private industrial estate developer will get government assistance for infrastructure development if permission to set up a private industrial park is granted. The government will sanction a maximum of Rs three crore at the rate of Rs 30 lakh per acre for setting up the required infrastructure facilities.
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