Kareem invites NRIs to invest in Kerala

Dubai, Apr 29: With a view to promoting the state of Kerala as an investment destination, Kerala Industry Minister Elamaram Kareem has invited resident and non-resident Keralites of the region to invest in a company set up to promote infrastructure development projects in the state.

The company, Infrastructures Kerala Ltd (InKEL) formed as a public private partnership (PPP) initiative, will give preferential treatment to low and middle-income Keralites in the allotment of shares.

The company has a capital of Rs 100 crore, with the government of Kerala chipping in 26 per cent and the remaining to be raised from the public through private placement.

InKEL plans to build a series of knowledge corridors, electronic hubs, free trade and warehousing zone in Kochi and life science park and a satellite city.

The company focuses in manufacturing, processing, packaging, agro-industries, tourism, recreation and commercial centres, an official source said.

The Minister is heading an investment delegation, visiting the AGCC countries to invite non-resident Keralite investors from the region.

UNI