Latest news with #KeralaStateIndustrialDevelopmentCorporation
The Hindu
21-05-2025
- Business
- The Hindu
Kerala setting a new benchmark for investment promotion, project implementation: Rajeeve
Four projects for which expression of interests (EOIs) have been received at the Invest Kerala Global Summit (IKGS) in Kochi this February commenced in April. The projects have a total outlay of ₹1,211 crore. Meanwhile, foundation stone will be laid this month for eight projects coming up at an investment of ₹2,675 crore. The four projects have the potential to generate 3,050 jobs. As many as 8,800 jobs will be created by the eight projects. Disclosing this at a press conference here on Wednesday, Minister for Industries P. Rajeeve said this affirmed Kerala's standing as a premier investment destination with increased investor trust in the government. He said another five projects, with an outlay of over ₹1,000 crore and the potential to generate 2,400 jobs, were slated to begin in June. 'By combining transparent digital tools, decentralised execution, and policy reform, Kerala is setting a new benchmark for investment promotion and project implementation in the country,' he said. Among the major proposals that came up at the IKGS, the Genome Valley at Life Sciences Park with an investment of ₹3,800 crore in Thiruvananthapuram will commence construction shortly while Unity Mall in Thiruvananthapuram will be inaugurated in November, the Minister said. A dedicated advisory group, chaired by the Minister, has been formed for monitoring project implementation, coordinating across departments and resolving issues. A policy reform meeting chaired by the Chief Minister is scheduled for June. The meeting will address the procedural and policy bottlenecks that affect investment implementation and focus on improving the overall ease of doing business. A portal, has been launched to create a database of land available in the State for industrial purposes, the Minister said. The portal will function like a matchmaking website where those who have land available for industrial purposes can list information, Mr. Rajeeve said. Another portal, developed by the Kerala State Industrial Development Corporation, will provide investors and departments updates and information about each proposal's implementation status. It also features a monthly progress report to ensure transparency and stakeholder accountability. Around 450 EOIs have been received at the IKGS, for which over 370 project-level meetings have been conducted so far, and updated status reports and photographs have been uploaded on the dashboard of the IKGS portal.
Time of India
14-05-2025
- Business
- Time of India
State's first med-tech hub to begin allotment in July
T'puram: Kerala's first dedicated medical devices park is set to become a major hub for the med-tech industry. Located at the Life Science Park in Thonnakkal, Thiruvananthapuram, MedSpark is a joint initiative of the Kerala State Industrial Development Corporation (KSIDC) and the Sree Chitra Tirunal Institute for Medical Sciences and Technology (SCTIMST).The park is expected to begin allotting space to major medical device companies starting this July, with full-scale operations slated to commence in Jan 2026, when construction is scheduled for to Dr Praveen KS, CEO of Life Science Park, several reputed players in the medical devices sector have shown strong interest in the project. "Discussions with prominent companies are already under way, although officials have not disclosed names as negotiations are still in progress. The MedSpark project will be a game-changer for the medical device industry in Kerala," Dr Praveen said. "This is the first such park in the state and it will host major medical device manufacturers and incubators. The state has a strong ecosystem in this field, and this initiative will take it to the next level," he of the park includes two five-storey blocks and one single-storey facility. While the initial two blocks were completed by the original contractor, RDS Projects Ltd, work stalled after the firm exited the project. The remaining construction is now being handled by the Uralungal Labour Contract Co-operative Society, with all structural work expected to finish by Jan 2026. Interior works will follow, with tenders already foundation stone for MedSpark was laid in Sept 2020, but delays pushed back the timeline. The project's total cost is estimated at Rs 256 crore, with Rs 156 crore from the state govt and Rs 100 crore from the Centre. Central funds are primarily being used to set up advanced testing labs and related as an integrated ecosystem for the medical devices sector, MedSpark will offer facilities for R&D, testing and evaluation, manufacturing support, innovation, and skill development. Key components include a medical device testing and evaluation centre, a shared R&D hub, a knowledge centre, and units for clinical trials, regulatory assistance, and operational, MedSpark is projected to generate around 1,200 direct jobs and an additional 4,000–5,000 indirect jobs through support services and allied industries. Kerala's existing medical device sector already sees an annual turnover of over Rs 750 crore, with many companies leveraging SCTIMST-developed technologies.
The Hindu
07-05-2025
- Business
- The Hindu
Website to track progress of Invest Kerala Global Summit proposals
A website is being launched by the Kerala Industries department to track the progress of work on the investment proposals received at the Invest Kerala Global Summit in February, which will provide a ringside view of the developments in the State on new investments linked to the global summit. The website is designed in such a way that people are able to access it to assess the status of the proposals. The two-day investment summit in February received more than 370 proposals involving investment to the tune of ₹1.5 lakh crore. The volume of investments was later revised to ₹1.9 lakh crore taking into considerations the proposals received later. The State government had promised that the the Invest Kerala Global Summit proposals will have a high conversion rate. Foundation Industries Minister P. Rajeeve said that foundation for 13 units involving an investment of ₹4,410 crore, received at the global summit, would be laid later this month. April had seen works beginning on four projects involving an investment of ₹1,670 crore. These proposals were also received at the global investors' summit. In addition to these projects, work had been progressing on 76 projects involving investments of ₹1,385 crore since February, the Minister added. The proposed website will provide a monthly overview of the projects for which foundation has been laid and also give a view of the work progress in projects for which foundation has been laid. The government has appointed 28 groups under nodal officers to monitor the progress of the projects under the Kerala State Industrial Development Corporation, Kinfra and the Directorate of Industries.
