Latest news with #TravancoreRayons
New Indian Express
20-06-2025
- Business
- New Indian Express
Travancore Rayons land: Kerala govt lowers value of 30-acre plot to attract investors
KOCHI: The weed-overgrown land that once housed the Travancore Rayons unit at Perumbavoor moved one step towards redemption with the state cabinet revising downwards the land value for 30-acre land to Rs 12.28 crore from Rs 64.13 crore pegged earlier. The revised land value was arrived at for the land in partial possession with Kerala Industrial Infrastructure Development Corporation (Kinfra). The state cabinet made the decision at its meeting held on Wednesday. A total of 68 acres of land has been lying unattended and restricted in the heart of Vallam in Perumbavoor more than two decades after Travancore Rayons shut down its operations in July 2001. Welcoming the decision, Santhosh Koshy, managing director, Kinfra, told TNIE that the corporation will pay the requisite amount to the authority concerned and take possession of the land after the revenue department issues the government order on new land value. He expressed confidence that the lower land value would be attractive to the investors who want to come and set up infrastructure in the property. 'Higher land value was a deterrent. Since the investor would have to not only pour in money to acquire land but also cough funds to establish the infrastructure,' he added. According to Koshy, the remaining 38 acres of land that belonged to Travancore Rayons is still tangled in legal issues and is under the jurisdiction of Kerala High Court's liquidator. 'We expect that the issues will be solved in five to six months. Once that happens, the 38 acres too would be taken over by Kinfra for the industrial park,' he added.
Time of India
21-04-2025
- Business
- Time of India
Industrial park mooted on former Travancore Rayons land in Perumbavoor
Kochi: Govt is planning to facilitate the setting up of green industries, such as an electronic park, on the land taken over from Travancore Rayons at Perumbavoor. Industries minister P Rajeeve said industries will be launched in two phases. Kinfra already took over a part of the land, which was earlier leased to Travancore Rayons. Rayons factory stopped operations in the past few years. Rajeeve visited the land on Monday. He stated that modern industries without environmental pollution will be initiated in the area. "Out of the total 68 acres that were in possession of Rayons, 30 acres have been handed over to Kinfra. Technical procedures, including tendering, are complete. Construction of electronic park will begin once govt approval is obtained. Since the area is adjacent to Periyar River, construction must adhere to buffer zone regulations," Rajeeve said. Of the 30 acres, 18.43 acres can be used for industries after completing roads and other infrastructure. In Phase I, industries such as consumer electronics, artificial intelligence, robotics, ayurvedic products, food processing units and e-commerce warehouses will be established, with an expected cost of around Rs 22 crore. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villas Prices In Dubai Might Be More Affordable Than You Think Villas In Dubai | Search Ads View Deals Undo Phase II will commence once the remaining land is taken over. It will include a research centre, an incubation centre for startups, plug-and-play facilities for rapid industrial setup, units for nanotechnology, consumer electronics, artificial intelligence, robotics and food processing. "A detailed master plan is prepared. It is expected that 44.17 acres can be utilized for industries once the two phases are completed. Land cannot be allocated for purposes other than the park," the minister said. He also mentioned that many investors expressed interest in setting up new ventures during Global Investors Summit held in Kochi last month.
