‘Projects worth 54k cr in implementation stage’

Kochi: A year after the state govt organized Invest Kerala Global Summit to attract investors, projects worth Rs 54,908.22 crore have moved into the implementation phase. The summit was held on Feb 21 last year."This accounts for over 40% of expressions of interests (EoIs) received at the summit, with readily available land for the projects," minister for industries, law and coir P Rajeeve said on Friday. The summit, which significantly enhanced Kerala's global investment profile, received EoIs worth Rs 1,81,209 crore from 449 investors. Of these, 115 projects have already begun construction or started operations generating 66,073 employment opportunities, he said, adding the govt had focused on 22 priority sectors, including tourism, food processing, IT, pharmaceuticals and healthcare. The govt is now concentrating on ensuring time-bound implementation of the committed investments. Projects have been categorized based on investment value, with systematic follow-up carried out through KSIDC, directorate of industries and commerce and Kinfra. Investments up to Rs 100 crore are monitored by directorate of industries and commerce, while projects above Rs 100 crore are overseen by KSIDC. A dedicated mechanism has also been established to expedite clearances and conduct periodic project reviews, he said. To enhance transparency in investment process, govt has introduced a dedicated online portal. The platform helps track the work of nodal officers and address issues faced by investors by bringing them to the attention of relevant departments. An advisory panel has been constituted to resolve implementation bottlenecks. The govt already approved 22 policy reforms to improve the investment climate. The formation of a special task force within the LSG department and the establishment of investment facilitation cells in all district collectorates have further accelerated project execution.