IITD Projects to attract Rs 2,500 crore investment

Kozhikode, Sep 10 (UNI) Malaysian Minister of Works Seri S Sami Velu today said the proposed Integrated Industrial Township Development (IITD) Projects at Kinaloor in this district would attract Rs 2,500 crore investment in the state.

Talking to newspersons after signing a Memorandum of Understanding (MoU) to set up a mega infrastructure project on a 275 acre land at a cost of Rs 500 crore, he said the investments were expected mainly from Non-Resident Indians and Malaysian businessmen.

He said this would create 25,000 job opportunities in the state.

Assuring quality construction on par with world standards, he claimed that the contractors from Malaysia were very competitive and they had already undertaken 47 projects in India, majority of them highways.

At present they were handling 11 projects worth Rs one billion dollars in various parts of the country, he added.

He urged the Kerala Government to construct a road to Kinaloor from Kozhikode for the smooth development of the site and the surrounding areas.

Industries Minister Elamaram Kareem said neighbouring states, including Tamil Nadu and Karnataka, were far ahead of Kerala as far as development was concerened.

''We have a tendency to indulge in controversies dampening the development of the state,'' the minister said.

Mr Kareem sought full support from media, political parties and the general public for the successful compeltion of the projects.

The MOU was singed by Construction Industry Development Board (CIDB) Chief Executive Officer Hamza Hasan and Kerala Industrial Development Corporation (KSIDC) Managing Director P H Kurian on behalf of their respective governments.

The projects envisaged include knowledge based industries, medical city, condominiums, entertainment centres and other associated infrastructures.

UNI