Kochi: Finance minister Dr T.M. Thomas Isaac has promised to set up a company on the model of the Cochin International Airport Ltd (CIAL) for making value-added rubber products in the state. “Without entering into the value added products of rubber, the present crisis cannot be overcome. For this, a company in the model of CIAL will be registered in 2019-20. KSIDC has prepared detailed documents for this. Land will be acquired and preliminary works will begin this year,” Dr Isaac said.
The government will have 26 per cent equity investment and the balance by private investors. Kinfra has been entrusted with the task of finding 200 acres in Kottayam district. Efforts are on to bring a large tyre manufacturing company as the main investor in this park. There will be common processing facilities in the park for small scale rubber producers. The aim is to create an industrial complex manufacturing items ranging from balloons to tyre.
