Kerala woos Non-Resident Keralaites for investment

Kochi: In order to boost infrastructure development, the Kerala government Saturday threw open three of its major projects - Kochi Metro Rail Ltd (KMRL), Kannur International Airport and Startup Village - for non-resident Keralites (NRKs) for investments.

Kerala Governor P. Sathasivam called upon the NRKs to follow the rules and laws of the central and state governments while bringing in money to the state and wisely invest the money in infrastructure projects of the state.

"I request the NRKs to follow the rules of the government while sending money. Then only it will be possible to safeguard your money. The NRKs should also invest their money in various developmental projects of the state," said Sathasivam while inaugurating the valedictory function of the two-day Global NRK Meet here.

KMRL managing director Elias George, Kannur International Airport Ltd chief G.Chandramouli and Startup Village chairman Sanjay Vijayakumar made detailed presentation on the respective projects before the NRKs in the session titled "Setting the Stage-Investment, Opportunities and Infrastructure Development" at the meet, which ended Saturday.

"We are not just attempting to set up a metro system, but make Kochi a city with seamless transport system. We want the NRKs to make investment in two major township projects of KMRL at Muttom and Kakkanad. While we are looking at an investment of Rs.20 crore for the 18-acre Kakkanad project, the investment for the 215 acre Muttom project is pegged at Rs.230 crore. Both these projects will soon be opened up for investment from NRKs," said George.

Chandramouli said that the nearly Rs.1,900 crore Kannur airport project was on the right track and they would be able conduct the trial run by December this year.

"We have been able to get considerable investment from Airport Authority of India. Of the 16 percent stake open to public, we have been able to get investment up to 14 percent and we want the NRKs to investment in the remaining two percent," he said.

Vijayakumar, in his presentation, highlighted the different investment options available for the NRKs at the Startup Village which has created a revolutionary ecosystem for start-ups in the state.

"In the last three years of our operation, we have been able to support 900 start-ups and are targeting to support 10,000 start-ups by 2025. To fuel this growth, we are targeting a total investment of Rs.750 crore to set up a million square feet world class infrastructure incubation facility and an angel fund to finance the start-ups," he added.

The event also witnessed Kerala State Health secretary K.S.Elangovan highlighting the achievement of the state's health sector and the various welfare programmes rolled out by it for the benefit of the people. He sought the support of the NRKs in "Karunyam Kerala Project" which offers free cancer treatment to the patients in the state.