Kerala to Create Land Bank of 5,000 Acres to Promote Industries

industryThe Dearth of industrial land has been a major hurdle that kept the investors aloof from the state of Kerala. Now, the Government of Kerala is finding a new way out to sort out the issue.Mr. A.C. Moideen, Minister for Industries, said the state will be rolling out a comprehensive solution for the land scarcity and would create a land bank of 5,000 acres. An Investor Promotion and Facilitation Act is being planned to catalyze the process as well.

Kerala State Industrial Development Corporation (KSIDC) will be the nodal agency to eradicate obstacles faced by the industries in the State and Kerala Investment Fund Board (KIFB) would be brought into for the financial support of the programme.

This announcement is against the backdrop of several engagements to turn Kerala the most investor-friendly state in the country.It is anticipated that, using the land bank, integrated manufacturing clusters would be developed at key locations across the Industrial corridors with world class infrastructure, road and rail connectivity for freight movement.

The statement sprinkles hope on the upcoming endeavors which essentially require a considerable area of industrial land. The announcement which is likely to boost up the industrial atmosphere of the state has opened up vast opportunities to those players across sectors such as Petrochemical, IT & Electronics, Power, Infrastructure, Manufacturing & Allied industries.

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